Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time. (b) Upon the occurrence, and during the continuation, of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum. (c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand. (d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 13 contracts
Sources: Revolving Credit Agreement (Atmos Energy Corp), Revolving Credit Agreement (Atmos Energy Corp), 364 Day Revolving Credit Agreement (Atmos Energy Corp)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time for such period and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to timetime for such period.
(b) Upon the occurrence, and during the continuation, Notwithstanding subsection (a) of an Event of Default under Section 7.1(a) orthis Section, at the option of the Required LendersLenders if an Event of Default has occurred and is continuing, any other and automatically after acceleration following an Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the earlier of the last day of such Interest PeriodPeriod and the last day of the continuance of such Event of Default, and thereafterthereafter during such continuance, and with respect to all Base Rate Loans and all other such Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthssix months or more, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 6 contracts
Sources: Credit Agreement (Tengasco Inc), Credit Agreement (Tengasco Inc), Credit Agreement (Tengasco Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 5 contracts
Sources: Revolving Credit Agreement (NGP Capital Resources Co), Revolving Credit Agreement (NGP Capital Resources Co), Revolving Credit Agreement (NGP Capital Resources CO)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar SOFR Loan at the Adjusted LIBO Rate Term SOFR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon the occurrence, Notwithstanding subsections (a) and during the continuation, (b) of an Event of Default under Section 7.1(a) orthis Section, at the option of the Required Lenders, any other Lenders if an Event of DefaultDefault has occurred and is continuing, and automatically after acceleration or with respect to any past due amount hereunder, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar SOFR Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such SOFR Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day Business Day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar SOFR Loans shall be payable on the last day Business Day of each Interest Period applicable thereto, and, in the case of any Eurodollar SOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 5 contracts
Sources: Revolving Credit Agreement (WaterBridge Infrastructure LLC), Revolving Credit Agreement (WaterBridge Infrastructure LLC), Revolving Credit Agreement (WaterBridge Infrastructure LLC)
Interest on Loans. (a) The Borrower shall pay interest on each (i) Base Rate Loan at the Base Rate in effect from time to time time, and on each (ii) Eurodollar Loan Loan, at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin Margin, with respect to such Type and Class of Loan in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceSwingline Rate in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a8.1(a), 8.1(b), 8.1(h) or, at the option of the Required Lenders, any other Event of Defaultor 8.1(i) has occurred and is continuing, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 2.0% above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.0% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months months, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be, in each case in arrears. Interest on each Swingline Loan shall be payable monthly in arrears. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: Credit Agreement (E.W. SCRIPPS Co), Credit Agreement (E.W. SCRIPPS Co), Credit Agreement (E.W. SCRIPPS Co)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate plus the Applicable Margin for Base Rate Loans, in each case as in effect from time to time time, and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, plus the Applicable Margin for Eurodollar Loans in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: Revolving Credit Agreement (Deltic Timber Corp), Revolving Credit Agreement (Deltic Timber Corp), Revolving Credit Agreement (Deltic Timber Corp)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, Base Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and during the continuation, (b) of an Event of Default under Section 7.1(a) orthis Section, at the option of the Required Lenders, any other Lenders if an Event of DefaultDefault has occurred and is continuing, and automatically after acceleration or with respect to any past due amount hereunder, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Confidentiality Agreement (Perion Network Ltd.), Revolving Credit Agreement (Healthstream Inc), Revolving Credit and Term Loan Agreement (Ensign Group, Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Revolving Credit Agreement (Rollins Inc), Revolving Credit Agreement (Rollins Inc), Revolving Credit Agreement (Rollins Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of rate applicable to such Loan pursuant to Section 2.4(b).
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Revolving Credit Agreement (Northern Border Pipeline Co), Revolving Credit Agreement (Northern Border Partners Lp), Revolving Credit Agreement (Northern Border Partners Lp)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Defaultand after acceleration (in which case, such increase shall be automatic), the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 2.0% above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.0% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date, the Term Loan A Maturity Date or the Term Loan A-1 Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date the Term Loan A Maturity Date or the Term Loan A-1 Maturity Date, as the case may be. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the fifth Business Day following such Swingline Borrowing, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Encore Capital Group Inc), Amended and Restated Credit Agreement (Encore Capital Group Inc), Credit Agreement (Encore Capital Group Inc)
Interest on Loans. (a) The Borrower shall pay interest (i) on each Daily One Month LIBOR Loan at the Daily One Month LIBOR rate in effect from time to time, plus the Applicable Margin in effect from time to time, and (ii) on each Eurodollar Loan at LIBOR for the applicable Interest Period in effect for such Loan, plus the Applicable Margin in effect from time to time. In the event that any Loans shall from time to time be Base Rate Loans, the Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loantime, plus, in each case, plus the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of DefaultLender, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans Loans, all Daily One Month LIBOR Loans, and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Daily One Month LIBOR Loans and Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months90 days, on each day which occurs every three months 90 days after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent Lender shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (FRP Holdings, Inc.), Credit Agreement (Patriot Transportation Holding, Inc.), Credit Agreement (New Patriot Transportation Holding, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate LIBOR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) The Borrower shall pay interest on each Incremental Term Loan as provided in the definitive documentation establishing such Incremental Term Loan.
(d) Notwithstanding Sections 2.13(a), (b) and during the continuation(c), of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other or automatically in the case of an Event of DefaultDefault under Sections 8.1(a), (b), (g), (h) or (i), the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to two percent (2.00%) above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to two percent (2.00%) above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(ce) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last first day of each MarchApril, JuneJuly, September October and December January and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three (3) months, on each day which occurs every three (3) months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(df) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Biotelemetry, Inc.), Credit Agreement (Biotelemetry, Inc.), Credit Agreement (BioTelemetry, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on each (i) Base Rate Loan at the Base Rate in effect from time to time time, and on each Eurodollar Loan (ii) Term SOFR Loan, at the Adjusted LIBO Rate Term SOFR for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin Margin, with respect to such Type and Class of Loan in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceSwingline Rate in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a8.1(a), 8.1(b), 8.1(h) or, at the option of the Required Lenders, any other Event of Defaultor 8.1(i) has occurred and is continuing, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Term SOFR Loans at the rate per annum equal to 2.0% above the otherwise applicable interest rate for such Term SOFR Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.0% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the applicable Revolving Commitment Termination Date or the applicable Term Loan Maturity Date, as the case may be. Interest on all outstanding Eurodollar Term SOFR Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Term SOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months months, after the initial date of such Interest Period, and on the applicable Revolving Commitment Termination Date or the applicable Term Loan Maturity Date, as the case may be, in each case in arrears. Interest on each Swingline Loan shall be payable monthly in arrears. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (E.W. SCRIPPS Co), Credit Agreement (E.W. SCRIPPS Co)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate LIBOR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrencelesser of (i) the Base Rate plus the Applicable Margin and (ii) the Swingline Lender’s quoted rate for Swingline Loans, and during the continuationin each case, of in effect from time to time.
(c) Notwithstanding Section 2.13(a) or 2.13(b), automatically after an Event of Default has occurred and is continuing under Section 7.1(a8.1(a), 8.1(b), 8.1(h) or, at the option of the Required Lenders, any other Event of Defaultor 8.1(i), the Borrower shall pay interest (“Default Interest”) ), except to the extent owed to a Defaulting Lender, with respect to all past due Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all past due Base Rate Loans and all other past due Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day Business Day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit and Term Loan Agreement (Repay Holdings Corp), Revolving Credit and Term Loan Agreement (Repay Holdings Corp)
Interest on Loans. (a) The Borrower shall pay interest with respect to the Revolving Loans made to the Borrower pursuant to Section 2.2 and the Term Loan A made to the Borrower pursuant to Section 2.5 (i) on each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and (ii) on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional two percent (2% %) per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, Loans plus an additional two percent (2% %) per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months(3) months or ninety (90) days, respectively, on each day which occurs every three (3) months or ninety (90) days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit and Term Loan Agreement, Revolving Credit and Term Loan Agreement (Aaron's Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time plus, in each case, the Base Rate Margin in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Eurodollar Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Swingline Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding presumed correct for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Loan Agreement (American Healthways Inc), Revolving Credit Loan Agreement (American Healthways Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Term Loan Agreement (Atmos Energy Corp), Term Loan Agreement (Atmos Energy Corp)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar SOFR Loan at the Adjusted LIBO Rate Term SOFR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, if an Event of Default has occurred and during is continuing,
(i) if any principal of any Loan is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest at a rate per annum equal to two percent (2.00%) (“Default Rate”) plus the continuationotherwise applicable interest rate for such Loans to the fullest extent permitted by applicable Laws; and
(ii) if any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due, whether at stated maturity, upon acceleration or otherwise, then upon the request of the Required Lenders (or, after the occurrence of an Event of Default under Section 7.1(a) or8.1(h), automatically), such overdue amount shall bear interest at a rate per annum equal to the option of Default Rate plus the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable interest rate for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annumto the fullest extent permitted by applicable Laws.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar SOFR Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar SOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
(f) In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.
Appears in 2 contracts
Sources: Credit Agreement (Molina Healthcare, Inc.), Credit Agreement (Molina Healthcare, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar SOFR Loan at the Adjusted LIBO Rate Term SOFR for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar SOFR Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar SOFR Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar SOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Atmos Energy Corp), Revolving Credit Agreement (Atmos Energy Corp)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Default, and after acceleration the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Malibu Boats, Inc.), Credit Agreement (Malibu Boats, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and (b) of this Section, (i) automatically upon the occurrence and during the continuation, continuance of an Event of Default under specified in Section 7.1(a8.1(a), (b), (g), (h) oror (i), and (ii) at the option of the Required Lenders, Lenders upon the occurrence and during the continuance of any other Event of Default, the Borrower shall pay interest (“Default Interest”) ), with respect to all Eurodollar Loans at the rate per annum equal to 2.00% above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.00% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement (Landmark Infrastructure Partners LP)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate LIBOR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and (b) of this Section, automatically upon the occurrence and during the continuation, continuance of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all overdue principal and interest and all other Obligations not paid when due at the rate per annum equal to 200 basis points above the otherwise applicable interest rate with respect thereto (i.e., for Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans). Notwithstanding the foregoing, plus automatically upon the occurrence and during the continuance of an additional 2% per annumEvent of Default under Sections 8.1(g), (h) or (i) with respect to the Borrower, the Borrower shall pay Default Interest in accordance with the preceding sentence with respect to all Obligations whether or not overdue.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination applicable Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination applicable Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Pennant Group, Inc.), Credit Agreement (Pennant Group, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceSwingline Rate in effect from time to time.
(c) Notwithstanding clause (a) and (b) above, and during the continuation, of while an Event of Default under Section 7.1(a) orexists, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans, all Swingline Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date and the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than LoansLoans and Hedging Obligations), at an all-in rate in effect for the Base Rate Loans, plus the Applicable Margin plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December December, on the Swingline Termination Date (with respect to Swingline Loans) and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months months, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Haverty Furniture Companies Inc), Revolving Credit Agreement (Haverty Furniture Companies Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time plus the Applicable Margin in effect from time to time, and the Borrower shall pay interest on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate.
(c) If an Event of Default under Section 7.1(a) orhas occurred or is continuing, and at the option any time after acceleration of the Required Lenders, any other Event Loans pursuant to the last paragraph of DefaultSection 8.1, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December Fiscal Quarter and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loans shall be payable quarterly in arrears on the last day of each Fiscal Quarter, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on CHAR1\935816v6 the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Ruby Tuesday Inc), Revolving Credit Agreement (Ruby Tuesday Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Newmarket Corp), Revolving Credit Agreement (Newmarket Corp)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Defaultand after acceleration, the Borrower shall pay interest (“Default Interest”) (i) with respect to all Base Rate Loans, at the rate per annum equal to two hundred (200) basis points above the otherwise applicable interest rate for such Base Rate Loans and (ii) with respect to all Eurodollar Loans at the rate per annum equal to two hundred (200) basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to two hundred (200) basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day Business Day of each March, June, September and December and on the Revolving Commitment Termination Date or the applicable Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day Business Day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the applicable Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (EVO Payments, Inc.), Credit Agreement and Security Agreement (EVO Payments, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on each (i) Base Rate Loan at the Base Rate in effect from time to time time, and on each Eurodollar Loan (ii) Term SOFR Loan, at the Adjusted LIBO Rate Term SOFR for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin Margin, with respect to such Type and Class of Loan in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceSwingline Rate in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a8.1(a), 8.1(b), 8.1(h) or, at the option of the Required Lenders, any other Event of Defaultor 8.1(i) has occurred and is continuing, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Term SOFR Loans at the rate per annum equal to 2.0% above the otherwise applicable interest rate for such Term SOFR Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.0% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be. Interest on all outstanding Eurodollar Term SOFR Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Term SOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months months, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be, in each case in arrears. Interest on each Swingline Loan shall be payable monthly in arrears. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (E.W. SCRIPPS Co), Credit Agreement (E.W. SCRIPPS Co)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and (b) of this Section, and during (i) after the continuation, occurrence of an Event of Default under Section 7.1(a) orSections 8.1(a), at the option of the Required Lenders8.1(h), any other Event of Defaultor 8.1(i), the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% and (ii) if any interest on any Loan or any fee or other amount payable by any Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest at a rate per annumannum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans hereunder. The interest described in this clause (c) is referred to herein as “Default Interest”.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (LendingTree, Inc.), Credit Agreement (LendingTree, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including including the date such Loans are made to but excluding the date of any repayment repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on each Swingline Loan (other than a Swingline Loan that is a Base Rate Loan which shall be payable as set forth above) shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit and Term Loan Agreement (Tc Pipelines Lp), Revolving Credit and Term Loan Agreement (Tc Pipelines Lp)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Term Loan Agreement (Tc Pipelines Lp), Term Loan Agreement (Tc Pipelines Lp)
Interest on Loans. (a) The Borrower Borrowers shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrowers shall pay interest on each Swingline Loan at the occurrence, Base Rate or such other rate of interest as agreed upon by the Borrower and during the continuation, Swingline Lender plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and (b) of an Event of Default under Section 7.1(a) orthis Section, at the option of the Required Lenders, any other Lenders if an Event of DefaultDefault has occurred and is continuing, the and automatically after acceleration or with respect to any past due amount hereunder, each Borrower shall pay interest (“Default Interest”) with respect to its portion of all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to its portion of all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Swingline Loans shall be payable monthly in arrears on the last day of each calendar month. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower Borrowers and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Buckeye Partners, L.P.), Revolving Credit Agreement (Buckeye Partners, L.P.)
Interest on Loans. (a) The Except as otherwise set forth herein, all Loans (including any Capitalized Interest) and all other Obligations (to the extent not paid when due) shall bear interest from and including the date when made to the date of repayment (whether by acceleration or otherwise) at a rate equal to 15% per annum; provided that if Borrower shall pay interest is not permitted to issue its Series B Preferred Stock as contemplated herein and the Securities Purchase Agreement on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for or before September 19, 2024, then the applicable Interest interest rate per annum shall be increased as set forth below commencing on the first day of each Applicable Period in effect for such Loan, plus, in each caseand continuing until the date on which Borrower is permitted to issue its Series B Preferred Stock as contemplated herein and the Securities Purchase Agreement (the “Approval Date”) (as adjusted, the Applicable Margin in effect from time “Interest Rate”). September 20, 2024 to time.October 19, 2024 16 % October 20, 2024 to November 18, 2024 17 % November 19, 2024 to December 18, 2024 18 % December 19, 2024 to January 17, 2025 19 % January 18, 2025 to the Approval Date 20 %
(b) Upon Except as otherwise set forth herein, interest on each Loan shall be payable in arrears (i) daily (unless the occurrencecash interest election has been made or deemed made pursuant to Section 2.5(d)), (ii) upon any prepayment of that Loan, whether voluntary or mandatory, to the extent accrued on the amount being prepaid, and during the continuation(iii) at maturity, of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annumincluding final maturity.
(c) Interest payable shall be computed on the principal amount basis of all Loans shall accrue from and including a 360-day year for the date such Loans are made to but excluding actual number of days elapsed in the period during which it accrues. In computing interest on any Loan, the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day making of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, andsuch Loan (or, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsCapitalized Interest, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion capitalization, which is daily on each calendar day) shall be included, and the date of payment in cash of such Loan, shall be excluded; provided that, if a Loan is repaid on the same day on which it is made, one (1) day’s interest shall be paid on that Loan. In computing interest on any other Obligation, the date such Obligation is due and payable shall be included, and the date of payment of such Obligation shall be excluded; provided, further, that, if such Obligation is repaid on the same day on which it is due and payable, no interest shall accrue thereon.
(d) All accrued and unpaid interest on the Loans (other than interest accruing at the Default Rate which, for the avoidance of doubt, shall be payable in cash on demand by Administrative Agent) shall be due and payable, in arrears, on a daily basis as compounded interest, added on a daily basis to the then outstanding principal balance of the Loans, which thereafter accrues interest at the then applicable rate (each such addition, “Capitalized Interest”); provided that Borrower may elect to pay interest in cash in arrears for any calendar month by providing written notice to Administrative Agent (in form and substance satisfactory to Administrative Agent in its sole discretion) at least five (5) Business Days prior to the end of such calendar month (in which case the interest for such month shall not be capitalized and shall instead be paid in cash on the last calendar day of each month (or, if such date is not a Business Day, on the next Business Day, including interest to, but excluding, such Business Day)); provided, further, that upon the occurrence and continuance of a Default or Event of Default, Borrower shall be deemed to have made such election and all interest shall be due and payable in cash as set forth in the preceding proviso. Interest shall also be paid on the date of any such repayment payment or prepayment (of the Loans. All Capitalized Interest shall constitute additional principal on the Loans and shall begin accruing interest thereon commencing on the date on which such Capitalized Interest is added to the principal amount repaid of the Loans on a daily basis each calendar day. Notwithstanding anything herein to the contrary, all interest due and payable on the date that the entire then outstanding principal amount of the Loans becomes due and payable (including, without limitation, all Capitalized Interest), whether at maturity, by acceleration or prepaid) thereofotherwise, shall be due and payable in full in cash on such date. All Default Interest amounts (including fees, costs, expenses, indemnification obligations or other amounts payable hereunder or under any other Credit Document) shall constitute Obligations secured by the Collateral and, if not paid in cash when due, shall bear interest at the rate then applicable to Loans. Any portion of such interest that has accrued pursuant to this Section 2.5 that is not permitted to be capitalized pursuant to this clause (d) shall be payable on demandpaid in cash.
(de) The Each determination of an interest rate by Administrative Agent shall determine each interest rate applicable pursuant to the Loans hereunder and shall promptly notify the Borrower and the Lenders any provision of such rate in writing (this Agreement or by telephone, promptly confirmed in writing). Any such determination any other Credit Document shall be conclusive and binding for all purposes, absent on Borrower and the Lenders in the absence of manifest error.
Appears in 2 contracts
Sources: First Omnibus Amendment to Credit Documents (Eos Energy Enterprises, Inc.), Credit and Guaranty Agreement (Eos Energy Enterprises, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of rate applicable to such Loan pursuant to Section 2.4(b).
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Northern Border Pipeline Co), Revolving Credit Agreement (ONEOK Partners LP)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate LIBOR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and (b) of this Section, and during the continuation, of an automatically after any Event of Default under pursuant to Section 7.1(a8.1(a), (b), (g) or, or (h) and at the option of the Required Lenders, Lenders after any other Event of DefaultDefault has occurred and is continuing, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans and all letter of credit fees payable pursuant to Section 2.14(c)(i) at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for the then-current Interest Period plus an additional 2% per annum until the last day such Eurodollar Loans or letter of such Interest Periodcredit fees, and thereafteras applicable, and with respect to all Base Rate Loans and all other Obligations hereunder (other than LoansLoans and letter of credit fees payable pursuant to Section 2.14(c)), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit and Term Loan Agreement (RadNet, Inc.), Revolving Credit and Term Loan Agreement (RadNet, Inc.)
Interest on Loans. (a) The Borrower Borrowers shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrenceNotwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Defaulthas occurred and is continuing, the Borrower Borrowers shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 2.0% above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.0% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Maturity Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower Borrowers and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Fortegra Financial Corp), Revolving Credit Agreement (Fortegra Financial Corp)
Interest on Loans. (a) The Borrower Each Loan shall pay bear interest on each Base Rate Loan from the date made until the date repaid, payable pursuant to Section 3.01(b), at a rate per annum equal to the Base Rate in effect from time to time time, which rate shall change as and on each Eurodollar Loan at the Adjusted LIBO when said Base Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to timeshall change.
(b) Upon the occurrence, and during the continuation, of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day calendar quarter of each Interest Period applicable theretoyear (each such day, anda "Quarterly Payment Date"), in commencing with the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months first such Quarterly Payment Date after the initial date of such Interest PeriodEffective Date, and on the Commitment Termination Date. Interest on any date such Loan which is converted into a Loan of another Type or which is repaid or prepaid prepaid, in the manner set forth in Section 4.01 or, if and only if permitted below, by the delivery of a Note evidencing an additional loan made pursuant to this Agreement and having a principal amount equal to the amount of such interest, as set forth below.
(i) On or prior to the fifth Business Day following each Quarterly Payment Date prior to January 1, 2001, the Borrower shall execute and deliver to the treasurer of the Lender a Note having a principal amount equal to the aggregate amount of all interest on Loans (including Additional Loans) payable on such Quarterly Payment Date. Each such Note shall evidence an additional loan made pursuant to this Agreement and shall bear interest in the manner and at the rate set forth in Section 3.01(a), which interest shall be payable in the manner set forth in this Section 3.01(b).
(ii) All interest on Loans (including Additional Loans) payable on any Quarterly Payment Date subsequent to December 31, 2000 shall be paid in the date manner set forth in Section 4.01; provided that if and only if EBITDA for the calendar quarter ending on such Quarterly Payment Date does not exceed the amount of such conversion interest as is payable on such Quarterly Payment Date, then, subject to Section 3.01(b)(iii), on or prior to the fifth Business Day following such Quarterly Payment Date, the Borrower shall execute and deliver to the treasurer of the Lender a Note having a principal amount equal to the aggregate amount of all interest on Loans (including Additional Loans) payable on such Quarterly Payment Date. Each such Note shall evidence an additional loan made pursuant to this Agreement and shall bear interest in the date of any such repayment or prepayment (on manner and at the amount repaid or prepaid) thereof. All Default Interest rate set forth in Section 3.01(a), which interest shall be payable on demandin the manner set forth in this Section 3.01(b).
(diii) The Administrative Agent Borrower shall determine each not be entitled to pay interest rate applicable to on Loans in the Loans hereunder and shall promptly notify manner set forth in Section 3.01(b)(ii) in respect of interest payable on any of the four Quarterly Payment Dates immediately following the closing of a primary offering or sale of securities by the Borrower and in which the Lenders of Net Available Securities Offering Proceeds from such rate in writing offering or sale equals or exceeds $5,000,000.
(or by telephone, promptly confirmed in writing). Any such determination c) No Warrants shall be conclusive and binding for all purposes, absent manifest errorissuable in connection with any Additional Loan.
Appears in 2 contracts
Sources: Credit Agreement (Miravant Medical Technologies), Credit Agreement (Pharmacia & Upjohn Inc)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Defaultand after acceleration, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Table of Contents Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Health Management Associates Inc), Credit Agreement (Health Management Associates Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each casethe case of a Eurodollar Loan, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Base Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months months, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Swingline Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Swift Transportation Co Inc), Revolving Credit Agreement (Swift Transportation Co Inc)
Interest on Loans. (a) The Borrower shall pay interest on each (i) Base Rate Loan at the Base Rate in effect from time to time and on each time, (ii) Eurodollar Loan Revolving Loan, at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan and (iii) Eurodollar Term Loan, at the greater of (A) the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan and (B) 0.75% per annum, plus, in each case, the Applicable Margin Margin, with respect to such Type and Class of Loan in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceSwingline Rate in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a8.1(a), 8.1(b), 8.1(h) or, at the option of the Required Lenders, any other Event of Defaultor 8.1(i) has occurred and is continuing, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 2.0% above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.0% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months months, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be, in each case in arrears. Interest on each Swingline Loan shall be payable monthly in arrears. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit and Term Loan Agreement (E.W. SCRIPPS Co), Revolving Credit and Term Loan Agreement (Scripps E W Co /De)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at either (i) the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, or (ii) LIBOR plus the Applicable Margin for each Revolving Loan in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) ), after as well as before judgment, with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loan shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (Watson Wyatt & Co Holdings)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Term SOFR Loan at the Adjusted LIBO Term SOFR Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of an Event of Default under Section 7.1(a) or (e) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Term SOFR Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Term SOFR Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Term SOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and (b) of this Section, (i) automatically upon the occurrence and during the continuation, continuance of an and Event of Default under specified in Section 7.1(a8.1(a), (b), (g), (h) oror (i), and (ii) at the option of the Required Lenders, Lenders upon the occurrence and during the continuance of any other Event of Default, the Borrower shall pay interest (“Default Interest”) ), with respect to all Eurodollar Loans at the rate per annum equal to 2.00% above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.00% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (Landmark Infrastructure Partners LP)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Defaultor after acceleration, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December December, commencing on September 30, 2010, and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Catalyst Health Solutions, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (Kayne Anderson Energy Development Co)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”"): (i) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until -19- the last day of such Interest Period, and thereafter, at the Base Rate, plus the Applicable Margin plus two percent (2%) per annum, and (ii) with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, at the Base Rate plus an additional the Applicable Margin, plus two percent (2% %) per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly monthly in arrears on the last day of each March, June, September and December calendar month and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand. Borrower must make all interest payments prior to 1:00 p.m. (Eastern Time) on the applicable due date in immediately available funds, free and clear of all defenses, set-offs, counterclaims, or withholdings or deductions for taxes.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time plus, in each case, the Base Rate Margin in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Eurodollar Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”"DEFAULT INTEREST") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Date or the Maturity Date, as the case may be. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Swingline Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding presumed correct for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (American Healthways Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, Period and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin Margin, with respect to such Type and Class of Loan in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceSwingline Rate in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 2.0% above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.0% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the Effective Date (in the case of Loans outstanding on the Effective Date) and the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months months, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be, in each case in arrears. Interest on each Swingline Loan shall be payable monthly in arrears. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Scripps E W Co /De)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin Margins in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceSwingline Rate in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of while an Event of Default under Section 7.1(a) orexists, at the option of the Required Lenders, any other Event of Defaultand after acceleration, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans, all Swingline Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date and the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of rate applicable to such Loan pursuant to Section 2.4(b).
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including including the date such Loans are made to but excluding the date of any repayment repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest (i) on each Daily One Month LIBOR Loan at the Daily One Month LIBOR rate in effect from time to time, plus the Applicable Margin in effect from time to time, and (ii) on each Eurodollar Loan at LIBOR for the applicable Interest Period in effect for such Loan, plus the Applicable Margin in effect from time to time. In the event that any Loans shall from time to time be Base Rate Loans, the Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loantime, plus, in each case, plus the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of DefaultLender, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans Loans, all Daily One Month LIBOR Loans, and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Daily One Month LIBOR Loans and Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months90 days, on each day which occurs every three months 90 days after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent Lender shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (Patriot Transportation Holding Inc)
Interest on Loans. (a) The Borrower shall pay interest (i) on each Base Rate Loan at the Base Rate in effect from time to time, plus, the Applicable Margin for Base Rate Loans in effect from time to time, (ii) on each Federal Funds Rate Loan at the Federal Funds Rate in effect from time to time, plus, the Applicable Margin for Federal Funds Rate Loans in effect from time to time and (iii) on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin for Eurodollar Loans in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) (i) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum, (ii) with respect to all Federal Funds Rate Loans, at the rate otherwise applicable, plus an additional 2% per annum, and (iii) with respect to Base Rate Loans and all other Obligations hereunder (other than Loans)) which are then due and payable, at an all-in rate in effect for Base Rate Loans, plus an and additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Federal Funds Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (Boston Private Financial Holdings Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each casethe case of a Eurodollar Loan, the Applicable Margin in effect from time to time.
(b) Upon the occurrenceNotwithstanding clause (a) above, and during the continuation, of while an Event of Default under Section 7.1(a) or, at the option exists or after acceleration of the Required Lenders, any other Event of DefaultLoans, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and Loans, all other Obligations hereunder (other than Loans), ) at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December Fiscal Quarter and on the Commitment Termination Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Notwithstanding anything to the contrary in the foregoing, accrued and unpaid fees outstanding and accrued and unpaid interest on the principal amount of all Loans outstanding on the Conversion Date and all other Obligations shall be due and payable on the Conversion Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest (i) on each Base Rate Loan at the Base Rate in effect from time to time time, and (ii) on each Eurodollar Eurocurrency Rate Loan at the Adjusted LIBO Eurocurrency Rate for the applicable Interest Period in effect for such Eurocurrency Rate Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceSwingline Rate in effect from time to time.
(c) If any payment due by the Borrower under this Agreement or the other Loan Documents is not made when due (without regard to any applicable grace period), and during whether at stated maturity, by acceleration or otherwise such owed amount shall automatically bear interest at the continuation, of Default Interest rate (as provided in the immediately succeeding sentence) without further action by the Administrative Agent or the Lenders. While an Event of Default under Section 7.1(a) orexists, then at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Eurocurrency Rate Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans (including Swingline Loans) shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Eurocurrency Rate Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Eurocurrency Rate Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) Each Reference Bank agrees, if requested by the Administrative Agent, to furnish to the Administrative Agent timely information for the purpose of determining each Eurocurrency Rate. If any Reference Bank shall not furnish such timely information to the Administrative Agent for the purpose of determining any such interest rate, the Administrative Agent shall determine such interest rate on the basis of timely information furnished by the remaining Reference Banks, subject to the provisions of subsection (i) of this Section 2.14. The Administrative Agent shall determine each give prompt notice to the Borrower and the Lenders of the applicable interest rate determined by the Administrative Agent for purposes of this Section 2.14, and the rate, if any, furnished by each Reference Bank for the purpose of determining the interest rate under this Section 2.14.
(f) If, with respect to any Eurocurrency Rate Loans, the Required Lenders notify the Administrative Agent that (i) they are unable to obtain matching deposits in the applicable Currency in the London inter-bank market at or about 11:00 A.M. (London time) on the second Business Day before the making of a Borrowing in sufficient amounts to fund their respective Revolving Loans as a part of such Borrowing during its Interest Period or (ii) the Eurocurrency Rate for any Interest Period for such Loans hereunder will not adequately reflect the cost to such Required Lenders of making, funding or maintaining their respective Eurocurrency Rate Loans for such Interest Period, the Administrative Agent shall forthwith so notify the Borrower and the Lenders, whereupon (A) the Borrower will, on the last day of the then existing Interest Period therefor, (1) if such Eurocurrency Rate Loans are denominated in Dollars, either (x) prepay such Loans or (y) convert such Loans into Base Rate Loans and (2) if such Eurocurrency Rate Loans are denominated in any Alternate Currency, either (x) prepay such Loans or (y) exchange such Loans into the Dollar Equivalent amount of Dollars or another Alternate Currency and convert such Loans into Base Rate Loans or Eurocurrency Rate Loans in such Alternate Currency and (B) the obligations of the Lenders to make, or to convert Revolving Loans into, Eurocurrency Rate Loans in any affected Currency shall promptly be suspended until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist.
(g) If the Borrower shall fail to select the duration of any Interest Period for any Eurocurrency Rate Loans in accordance with the provisions contained in the definition of “Interest Period”, the Administrative Agent will forthwith so notify the Borrower and the Lenders and such rate Loans will automatically, on the last day of the then existing Interest Period therefor, (i) if such Eurocurrency Rate Loans are denominated in writing Dollars, convert into Base Rate Loans and (or by telephoneii) if such Eurocurrency Rate Loans are denominated in an Alternate Currency, promptly confirmed in writing). Any such determination be exchanged for the Dollar Equivalent amount of Dollars and convert into Base Rate Loans.
(h) On the date on which the aggregate unpaid principal amount of Eurocurrency Rate Loans comprising any Borrowing shall be conclusive reduced, by payment or prepayment or otherwise, to less than the minimum borrowing amounts allowed for in Section 2.3, such Loans shall automatically (i) if such Eurocurrency Rate Loans are denominated in Dollars, convert into Base Rate Loans and binding (ii) if such Eurocurrency Rate Loans are denominated in an Alternate Currency, be exchanged for all purposesthe Dollar Equivalent amount of Dollars and convert into Base Rate Loans.
(i) Upon the occurrence and during the continuance of any Event of Default, absent manifest error(i) each Eurocurrency Rate Loan will automatically, on the last day of the then existing Interest Period therefor, (A) if such Eurocurrency Rate Loans are denominated in Dollars, be converted into Base Rate Loans and (B) if such Eurocurrency Rate Loans are denominated in any Alternate Currency, be exchanged for the Dollar Equivalent amount of Dollars and be converted into Base Rate Loans and (ii) the obligation of the Lenders to make, or to convert Loans into, Eurocurrency Rate Loans shall be suspended.
(j) If Moneyline Telerate Markets Page 3750, or comparable information on interest rate from another internationally recognized interest rate reporting service specified by the Administrative Agent, is unavailable and fewer than two Reference Banks furnish timely information to the Administrative Agent for determining the Eurocurrency Rate for any Eurocurrency Rate Loans, after the Administrative Agent has requested such information,
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including includ- ing the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date, as the case may be. Interest on each Swingline Loan (other than a Swingline Loan that is a Base Rate Loan which shall be payable as set forth above) shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower Subject to Section 2.05(b), Section 2.05(c) and Section 2.08 hereof, the following interest rates shall pay apply:
(i) with respect to that portion of the Term Loans and Revolving Credit Loans which at any time, together with the Letter of Credit Usage at such time, are in an aggregate outstanding principal amount of less than $15,000,000, (x) such portion of the Revolving Credit Prime Lending Rate Loans and Term Prime Lending Rate Loans shall bear interest on each Base at a rate per annum equal to the Prime Rate Loan at and (y) such portion of the Base Rate in effect from time to time and on each Revolving Credit Eurodollar Loan and Term Eurodollar Loans shall bear interest at a rate per annum equal to the Adjusted LIBO Rate for plus one and three quarter percent ( 13/4%); and
(ii) with respect to that portion of the applicable Interest Period Term Loans and Revolving Credit Loans which at any time, together with the Letter of Credit Usage at such time, are in effect for an aggregate outstanding principal amount of $15,000,000 or more, (x) such Loan, plus, in each case, portion of the Applicable Margin in effect from time Revolving Credit Prime Lending Rate Loans and Term Prime Lending Rate Loans shall bear interest at a rate per annum equal to timethe Prime Rate plus one quarter of one percent (1/4%) and (y) such portion of the Revolving Credit Eurodollar Loans and Term Eurodollar Loans shall bear interest at a rate per annum equal to the Adjusted LIBO Rate plus two and one half percent (2 1/2%).
(b) Upon Interest on each Loan shall be payable in arrears on each applicable Interest Payment Date, on the occurrenceRevolving Credit Termination Date, on the Final Maturity Date, and during in any event, on demand after the continuation, occurrence of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower and shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest be computed based on the principal amount number of all Loans shall accrue from and including the date such Loans are made to but excluding the date days elapsed in a year of any repayment thereof360 days. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify advise the Borrower Borrowers and the Lenders of such the interest rate so determined.
(c) The Borrowers shall pay to the Agent for its own account, in writing arrears, on each Interest Payment Date (or by telephonethe first Interest Payment Date being January 31, promptly confirmed 1996), on the Revolving Credit Termination Date, and in writing). Any such determination any event, on demand after the occurrence of an Event of Default, in immediately available funds, additional interest, which shall be conclusive computed based on the number of days elapsed in a year of 360 days, of one-quarter percent (1/4%) per annum on (i) the Prime Lending Rate Loans specified in Section 2.05(a)(i)(x) above (other than the Prime Lending Rate Loans made by NatWest), (ii) the Eurodollar Loans specified in Section 2.05(a)(i)(y) above and binding for all purposes, absent manifest error(iii) the Prime Lending Rate Loans and the Eurodollar Loans specified in Section 2.05(a)(ii) above.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time plus the Applicable Margin in effect from time to time, and the Borrower shall pay interest on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate.
(c) If an Event of Default under Section 7.1(a) orhas occurred or is continuing, and at the option any time after acceleration of the Required Lenders, any other Event Loans pursuant to the last paragraph of DefaultSection 9.1, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day Business Day of each March, June, September and December calendar quarter and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable quarterly in arrears on the last Business Day of each calendar quarter, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or CHAR1\1185130v10 prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Eurodollar Loan (i) from the Closing Date to November 30, 2005, at LIBOR, plus 1.75% per annum and (ii) from November 30, 2005 to the Commitment Termination Date, at LIBOR, plus 1.25% per annum. If a Base Rate Loan shall be outstanding under the circumstances set forth in Section 2.8 or 2.9, then the Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of DefaultLender, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for the Base Rate LoansRate, plus an additional 2% per annum.
(c) Interest on the principal amount of all Revolving Loans shall accrue from and including the date such Revolving Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, thereto and in the case of any Eurodollar Loans having an Interest Period in excess of longer than three months, on each day the date which occurs every three months after the initial date of such Interest Period, and in any case on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid Base Rate Loans shall be payable on the date last day of such conversion or each calendar month and on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereofCommitment Termination Date. All Default Interest shall be payable on demand.
(d) The Administrative Agent Lender shall determine each interest rate applicable to the Revolving Loans hereunder in accordance with the terms of this Agreement and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (Greene County Bancshares Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such LoanLoan plus the Applicable Margin in effect from time to time, plus, in and on each case, Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orhas occurred and is continuing or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-then current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-all in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December fiscal quarter of the Borrower and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which that is converted into a Loan of another Type or which that is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower Subject to the provisions of Section 2.07, each Revolving Loan and each Swingline Loan comprising an ABR Borrowing shall pay bear interest for each day from the date such Loan is made until it becomes due (computed on each the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be when determined by reference to the Prime Rate and over a year of 360 days at all other times) at a rate per annum equal to the Alternate Base Rate Loan at Rate, plus the Base Rate Applicable ABR Margin in effect from time to time and for such Class of Loan. So long as any ABR Borrowing is outstanding, the Administrative Agent shall promptly notify the Borrower of any change in the Prime Rate.
(b) Subject to the provisions of Section 2.07, each Revolving Loan comprising a Eurodollar Borrowing shall bear interest for each day from the date such Loan is made until it becomes due (computed on each Eurodollar Loan the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Adjusted LIBO Rate for the applicable Interest Period in effect for such LoanBorrowing, plus, in each case, plus the Applicable LIBOR Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, time for such Class of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annumLoan.
(c) Each Level I Pricing Period, Level II Pricing Period, Level III Pricing Period, Level IV Pricing Period, Level V Pricing Period or Level VI Pricing Period (each a "Pricing Period") shall commence on (and include) the date that is the first day of the third month following the end of each Fiscal Quarter of the Borrower and shall terminate on the day before the beginning of the next Pricing Period. Notwithstanding the foregoing, in the event the Borrower has failed to deliver any Required Financial Statements when due in accordance with Section 5.04, a Level VI Pricing Period shall be deemed to be in effect beginning as of the first day of the third month following the end of the Fiscal Quarter for which any Required Financial Statement was not timely delivered and such Level VI Pricing Period shall remain effective until a Fiscal Quarter in which Borrower has delivered the Required Financial Statements when due in accordance with Section 5.04, and then the applicable Pricing Period as determined pursuant hereto with reference to the Required Financial Statements shall become effective on the date determined above.
(d) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans Loan shall be payable on the last day of Interest Payment Dates applicable to such Loan, except as otherwise provided in this Agreement. The applicable Alternate Base Rate or Adjusted LIBO Rate for each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having or day within an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on as the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid case may be, shall be payable on determined by the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder in good faith, and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar EurodollarSOFR Loan at the Adjusted LIBO Rate LIBORTerm SOFR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and (b) of this Section, automatically upon the occurrence and during the continuation, continuance of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar overdue principal and interest and all other Obligations not paid when due at the rate per annum equal to 200 basis points above the otherwise applicable interest rate with respect thereto (i.e., for EurodollarSOFR Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such EurodollarSOFR Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans). Notwithstanding the foregoing, plus an additional 2% per annum.automatically upon the occurrence and during the
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination applicable Maturity Date. Interest on all outstanding Eurodollar EurodollarSOFR Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar EurodollarSOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination applicable Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (Ensign Group, Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of If an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which that occurs every three months months, after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which that is converted into a Loan of another Type or which that is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (Kaneb Pipe Line Partners L P)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and time. The Borrower shall pay interest on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to timeLoan plus 1.50%.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”"DEFAULT INTEREST") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 23.5% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly monthly in arrears on the last day of each March, June, September and December calendar month and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, months on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Loan Agreement (Lone Star Steakhouse & Saloon Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(aSections 8.1(a) or, at the option of the Required Lenders, any other Event of Defaultor (b) has occurred or is continuing, the Borrower shall pay interest (“Default Interest”) ), with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for the Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (NGP Capital Resources Co)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable LEGAL02/36800330v21 Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Defaultand after acceleration (in which case, such increase shall be automatic), the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 2.0% above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.0% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on (i) the last day of each March, June, September and December and on December, (ii) the 2017 Revolving Commitment Termination Date (but only in the case of Revolving Loans held by the 2017 Revolving Lenders), (iii) the 2019 Revolving Commitment Termination Date (but only in the case of Revolving Loans held by the 2019 Revolving Lenders), (iv) the Revolving Commitment Termination Date, (v) the Term Loan A Maturity Date (but only in the case of Non-Extending Lenders holding an outstanding Term Loan A), (vi) the Term Loan A-1 Maturity Date (but only in the case of Non-Extending Lenders holding an outstanding Term Loan A-1), (vii) the Term Loan A-2 Maturity Date (but only in the case of Non-Extending Lenders holding an outstanding Term Loan A-2) or (viii) the Term Loan A-3 Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on (i) the last day of each Interest Period applicable thereto, and, (ii) in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, on respectively, each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, (iii) the 2017 Revolving Commitment Termination Date (but only in the case of Revolving Loans held by the 2017 Revolving Lenders), (iv) the 2019 Revolving Commitment Termination Date (but only in the case of Revolving Loans held by the 2019 Revolving Lenders), (v) the Revolving Commitment Termination Date, (vi) the Term Loan A Maturity Date (but only in the case of Non-Extending Lenders holding an outstanding Term Loan A), (vii) the Term Loan A-1 Maturity Date (but only in the case of Non-Extending Lenders holding an outstanding Term Loan A-1), (viii) the Term Loan A-2 Maturity Date (but only in the case of Non-Extending Lenders holding an outstanding Term Loan A-2) or (ix) the Term Loan A-3 Maturity Date, as the case may be. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the fifth Business Day following such Swingline Borrowing, on each Existing Revolving Commitment Termination Date and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.. LEGAL02/36800330v21
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest (i) on each Base Rate Loan at the Base Rate in effect from time to time time, and (ii) on each Eurodollar Eurocurrency Loan at the Adjusted LIBO Rate LIBOR for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest (i) on each Competitive Bid Eurocurrency Loan at the occurrenceAdjusted LIBOR for the applicable Interest Period in effect for such Loan, plus (or minus) the Competitive Bid Margin quoted by the Lender making such Loan pursuant to Section 2.6(c) and accepted by the Borrower pursuant to Section 2.6(d), and during (ii) on each Competitive Bid Fixed Rate Loan, at the continuation, of Fixed Rate quoted by the Lender making such Loan pursuant to Section 2.6(c) and accepted by the Borrower pursuant to Section 2.6(d).
(c) The Borrower shall pay interest on each Swingline Loan at the Swingline Rate in effect from time to time.
(d) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”"DEFAULT INTEREST") with respect to all Eurodollar Eurocurrency Loans and Competitive Bid Fixed Rate Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(ce) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Eurocurrency Loans and all outstanding Competitive Bid Fixed Rate Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Eurocurrency Loans and Competitive Bid Fixed Rate Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Swingline Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(df) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar SOFR Loan at the Adjusted LIBO Rate Term SOFR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding paragraphs (a) and (b) of this Section, and during the continuation, of (i) automatically if an Event of Default under Section 7.1(a8.1(a), (b), (g) oror (h) has occurred and is continuing, or (ii) at the option of the Administrative Agent or the Required Lenders, Lenders if any other Event of DefaultDefault has occurred and is continuing, and (iii) automatically after acceleration or with respect to any past due amount hereunder, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar SOFR Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such SOFR Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar SOFR Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar SOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
(f) In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.
Appears in 1 contract
Sources: Credit Agreement (Skyward Specialty Insurance Group, Inc.)
Interest on Loans. (a) The Borrower Except as otherwise set forth herein, the Loans shall pay bear interest on each the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof as follows:
(i) for any ABR Loan, at the Alternate Base Rate Loan at plus the Base Rate in effect from time to time and on each Eurodollar Loan Applicable Margin; and
(ii) for any LIBOR Loan, at the Adjusted LIBO Rate plus the Applicable Margin.
(b) Except as otherwise provided in this Agreement, the Loans shall be LIBOR Loans with an Interest Period of three (3) months (unless Interest Period of three (3) months is not available or determinable, then, in such event, the Loans shall be LIBOR Loans of one (1) month Interest Period and if a one (1) month LIBOR is not then determinable, the Loans shall be LIBOR Loans of two (2) months Interest Period).
(c) As soon as practicable after 11:00 a.m. (New York City time) on each Interest Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Loans for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in effect for such Loan, plus, writing or by telephone confirmed in writing) to the Borrowers and each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demandLender.
(d) The Interest payable pursuant to Section 2.04(a) shall be computed (i) in the case of ABR Loans, on the basis of a 365/366-day year for the actual number of days elapsed in the period during which such interest accrues, and (ii) in the case of LIBOR Loans, on the basis of a 360-day year, in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Loan, the date of the making of such Loan or the first day of an Interest Period applicable to such Loan or, with respect to an ABR Loan being converted from a LIBOR Loan, the date of conversion of such LIBOR Loan to such ABR Loan, as the case may be, shall be included, and the date of payment of such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to an ABR Loan being converted to a LIBOR Loan, the date of conversion of such ABR Loan to such LIBOR Loan, as the case may be, shall be excluded; provided, if a Loan is repaid on the same day on which it is made, one day’s interest shall be paid on that Loan.
(e) Except as otherwise set forth herein, interest on each Loan shall be payable in arrears on (i) each Interest Payment Date, (ii) upon any prepayment of that Loan, whether voluntary or mandatory, to the extent accrued on the amount being prepaid, and (iii) at maturity, including final maturity.
(f) At least one (1) Business Day prior to each Interest Payment Date, the Administrative Agent shall determine each deliver to the Borrowers and the Lenders a calculation of the interest rate applicable required to be paid with respect to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposeswhich calculation shall, absent manifest error, be final, conclusive and binding upon all parties) on such Interest Payment Date. On each such Interest Payment Date (other than the Interest Payment Date occurring on March 30, 2018), the Administrative Agent shall cause investments held in the Interest Reserve Account to be liquidated and paid to the Lenders in accordance with this Section 2.04 in respect of the interest then due as specified in such notice from the Administrative Agent. Except as set forth in this Agreement, in no event may amounts on deposit in the Interest Reserve Account be used to pay any fees, indemnities (including under Section 2.14(c)) or other amounts due hereunder or for any other purpose (other than interest on the Loans). In the event that there are insufficient funds in the Interest Reserve Account to pay any such required amount when due, the Borrowers shall, prior to the applicable Interest Payment Date, deposit in Cash into the Interest Reserve Account an amount equal to such deficiency; provided, however, that the Administrative Agent shall Disburse an amount equal to such deficiency from the Loan Proceeds Account to the Interest Reserve Account in the event such amounts are not received from the Borrowers on a timely basis. The Borrowers acknowledge that any failure by the Borrowers to deposit funds into the Interest Reserve Account as required in this Section 2.04 shall not in any way exonerate or diminish the Borrowers’ Obligations to make all payments under this Agreement as and when due. Notwithstanding the foregoing, the parties hereto acknowledge that the Lenders held back on the Closing Date an amount equal to the interest due on the Interest Payment Date occurring on March 30, 2018 and such amount shall be applied toward the interest due on the Interest Payment Date occurring on March 30, 2018 (and no disbursements from the Interest Reserve Account shall be made on such date).
Appears in 1 contract
Sources: Term Loan Agreement (GPAQ Acquisition Holdings, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate LIBOR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon the occurrenceNotwithstanding clause (a) above, and during the continuation, of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other or automatically in the case of an Event of DefaultDefault under Sections 8.1(a), (h) or (i), the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to two percent (2.00%) above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to two percent (2.00%) above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest with respect to the Revolving Loans made to the Borrower pursuant to Section 2.2 and the Term Loan A made to the Borrower pursuant to Section 2.5: (i) on each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and (ii) on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional two percent (2% %) per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, Loans plus an additional two percent (2% %) per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months(3) months or ninety (90) days, respectively, on each day which occurs every three (3) months or ninety (90) days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Aaron's Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate plus, in each case, the Applicable Margin in effect from time to time time, and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar on the Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annumDefault Rate.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or ninety (90) days, respectively, on each day which occurs every three months or ninety (90) days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Date, as the case may be. Interest on each Swingline Loan shall be payable on the maturity of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Swingline Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Interest calculated at the Default Interest Rate shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding presumed correct for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (United Surgical Partners International Inc)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar EurodollarSOFR Loan at the Adjusted LIBO Rate RateTerm SOFR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the The Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans on each Swingline Loan at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate plus the Applicable Margin in effect for Base Rate Loans, plus an additional 2% per annumfrom time to time.
(c) Notwithstanding subsections (a) and (b) of this Section, if any Event of Default exists under Sections 8.1(a) or (f), the Loans and other Obligations under the Loan Documents not paid when due shall bear interest at a rate per annum equal to (i) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2.00% and (ii) in the case of any other Obligation, the rate then applicable to Base Rate Loans plus 2.00%, in each case, with respect to clauses (i) and (ii) above, from the date of such Event of Default until the earlier of the date such amount is paid in full (after as well as before judgment) and the date such Event of Default is cured or waived. All such default interest shall be payable from time to time on demand.
(d) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar EurodollarSOFR Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar EurodollarSOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
(f) In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Administrative Agent shall, ▇▇▇▇▇▇ promptly notify the Borrower and the written requestLenders of the Borrower, deliver to the Borrower a statement showing the quotations used by the Administrative Agent in determining any interest rate pursuant to Section 2.13(e)effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.
Appears in 1 contract
Sources: Credit Agreement (Teradyne, Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of . If an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) . Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which that occurs every three months months, after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which that is converted into a Loan of another Type or which that is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) . The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error. Fees.
Appears in 1 contract
Sources: Revolving Credit Agreement (Kaneb Pipe Line Partners L P)
Interest on Loans. (a) The Borrower shall pay interest (i) on each Base Rate Loan at the Base Rate in effect from time to time, plus, the Applicable Margin for Base Rate Loans in effect from time to time and (ii) on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin for Eurodollar Loans in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) (i) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum and (ii) with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans)) which are then due and payable, at an all-in rate in effect for Base Rate Loans, plus an and additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (Boston Private Financial Holdings Inc)
Interest on Loans. (a) The Borrower shall pay interest (i) on each Base Rate Loan Loan, at the Base Rate in effect from time to time time, (ii) on each Federal Funds Rate Loan, at the Federal Funds Rate in effect for such day, plus the Applicable Margin, and (iii) on each Eurodollar Loan Loan, at the Adjusted LIBO Rate LIBOR for the applicable Interest Period in effect for such Eurodollar Loan, plus, in each case, plus the Applicable Margin in effect from time to timeMargin.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans, Federal Funds Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for the Base Rate LoansRate, plus an additional 2% per annum.
(c) Interest on the principal amount of all Revolving Loans shall accrue from and including the date such Revolving Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, thereto and in the case of any Eurodollar Loans having an Interest Period in excess of longer than three months, on each day the date which occurs every three months after the initial date of such Interest Period, and in any case on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid all Base Rate Loans shall be payable on the date last day of such conversion or each calendar quarter and interest on all Federal Funds Rate Loans shall be payable on the date last day of each calendar month and in any such repayment or prepayment (case on the amount repaid or prepaid) thereofCommitment Termination Date. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Revolving Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (First Financial Bancorp /Oh/)
Interest on Loans. (a) The Borrower applicable Borrower(s) shall pay interest on each Revolving Base Rate Loan at the Base Rate in effect from time to time and on each Revolving Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Parent Borrower shall pay interest on each Swingline Loan at the occurrence, and during Base Rate plus the continuation, of Applicable Margin in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower Borrowers shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus the Applicable Margin and an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day Business Day of each March, June, September and December and on the Revolving Commitment Termination Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any each Swingline Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable quarterly in arrears on the date last day of such conversion or each March, June, September and December, and on the date of any such repayment or prepayment (on Swingline Termination Date, as the amount repaid or prepaid) thereofcase may be. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Parent Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (Energysouth Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each casethe case of a Eurodollar Loan, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Base Rate or Offered Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”"DEFAULT INTEREST") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and Offered Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths , on each day which occurs every three months months, after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Term Loan Maturity Date, as the case may be. Interest on each Swingline Loan (other than a Swingline Loan that is a Base Rate Loan which shall be payable as set forth above) shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Tc Pipelines Lp)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Defaultand after acceleration, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, months on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (Walter Investment Management Corp)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at either (i) the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, or (ii) LIBOR plus the Applicable Margin for each Revolving Loan in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loan shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (Watson Wyatt & Co Holdings)
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar EurodollarSOFR Loan at the Adjusted LIBO Rate RateTerm SOFR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and (b) of this Section, and during at the continuation, requestoption of the Required Lenders if an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, and automatically after acceleration or with respect to any other Event of DefaultDefault due to Sections 8.1(a), (h) or (i), the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar EurodollarSOFR Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such EurodollarSOFR Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day Business Day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar EurodollarSOFR Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar EurodollarSOFR Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
(f) In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.
Appears in 1 contract
Interest on Loans. (a) The Subject to Section 2.9, Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, then current Benchmark plus the Applicable Margin (the “Applicable Interest Rate”). Lender shall determine the interest rate applicable to the Loans hereunder and shall promptly notify Borrower of such rate in effect from time to timewriting (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of DefaultLender, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans on each Loan at the interest rate otherwise applicable for the then-current Interest Period to such Loan hereunder plus an additional 22.00% per annum until and the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and Borrower shall pay interest on all other Obligations hereunder (other than Loans), ) at an all-in the interest rate in effect for Base Rate Loans, otherwise applicable to Revolving Loans hereunder plus an additional 22.00% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly monthly in arrears on the last first day of each Marchmonth of Borrower (each a “Payment Date”), Junecommencing on April 1, September 2023, and December and continuing on each Payment Date thereafter until the Commitment Termination Date or the Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in as the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereofmay be. All Default Interest shall be payable on demand.
(d) The Administrative Agent Lender shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
(e) In the event that any payment due under the terms hereunder is not received by the Lender within fifteen (15) days of the date such payment is due (inclusive of the date when due), the Borrower shall pay to the Lender a late charge equal to four percent (4%) of such payment. Such fee shall be payable on the earlier of (i) the date of demand by the Lender and (ii) the date that the Borrower make the late payment.
(f) In connection with the use or administration of Term SOFR, the Lender will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Lender will promptly notify the Borrower of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.
Appears in 1 contract
Interest on Loans. (a) The Borrower Borrowers shall pay interest on each Base Rate Loan (including any Swingline Loan) at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrenceNotwithstanding clauses (a) above, and during the continuation, of if an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Defaulthas occurred and is continuing, the Borrower Borrowers shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 2.0% above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 2.0% above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans (including Swingline Loans) shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Term Loan Maturity Date or the Revolving Credit Maturity Date, as applicable. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable 45 thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, months on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Term Loan Maturity Date or the Revolving Credit Maturity Date, as applicable. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower Borrowers and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on Subject to Section 4.11, each Base Rate Loan shall bear interest for the period commencing with (and including) the Drawdown Date thereof and ending on (and excluding, with respect to repayment, if such repayment is received by Administrative Agent no later than 2:00 pm as required by Section 4.3(a)) the date on which such Base Rate Loan is repaid or converted to a LIBORSOFR Rate Loan at the rate per annum equal to the sum of the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, plus the Applicable Margin in effect from time to timeMargin.
(b) Upon Subject to Section 4.11, each LIBOR Rate(i) Daily Simple SOFR Loan shall bear interest for the occurrenceperiod commencing with (and including) the Drawdown Date thereof and ending on (and excluding, and during the continuation, of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of repayment, if such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other repayment is received by Administrative Agent no later than Loans2:00 pm as required by Section 4.3(a), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each MarchInterest Period with respect thereto or, Juneif earlier, September the date on which such LIBOR Rate Loan is repaid or converted to a Base Rate Loan,the date on which such Daily Simple SOFR Loan is repaid or is converted to a Loan of another Type at the rate per annum equal to the sum of Adjusted Daily Simple SOFR plus the Applicable Margin for SOFR Rate Loans, and December (ii) Term SOFR Loan shall bear interest for the period commencing with the Drawdown Date thereof and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable ending on the last day of each Interest Period applicable thereto, and, in with respect thereto at the case rate per annum equal to the sum of any Eurodollar Loans having an LIBORAdjusted Term SOFR determined for such Interest Period in excess of three months, plus the Applicable Margin for SOFR Rate Loans. 60 US_Active\120558968\V-3 US_ACTIVE\122519032\V-4 (c) Borrowers promise to pay interest on each day which occurs every three months after the initial date of such Loan in arrears on each Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demandPayment Date with respect thereto.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Senior Secured Credit Agreement (American Healthcare REIT, Inc.)
Interest on Loans. (a) The Borrower Borrowers shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate LIBOR for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon The Borrowers shall pay interest on each Swingline Loan at the occurrence, Base Rate plus the Applicable Margin in effect from time to time.
(c) Notwithstanding subsections (a) and during the continuation, (b) of an Event of Default under Section 7.1(a) orthis Section, at the option of the Required Lenders, any other Lenders if an Event of DefaultDefault has occurred and is continuing, and automatically after acceleration or with respect to any past due amount hereunder, the Borrower Borrowers shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower Agent and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at Subject to the Base Rate in effect from time to time and on provisions of Section 2.07, the Loans comprising (i) each Eurodollar Loan Revolving Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Adjusted LIBO Eurodollar Rate for the applicable Interest Period in effect for such Borrowing plus the Applicable Margin, determined pursuant to paragraph (d) below, and (ii) Eurodollar Competitive Loan, plus, in each case, at the Applicable Margin Eurodollar Rate for the Interest Period in effect from time for such Borrowing plus (or minus, as applicable) the Margin applicable to timesuch Borrowing.
(b) Upon Subject to the occurrenceprovisions of Section 2.07 the Loans comprising each Base Rate Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be) at a rate per annum equal to the Base Rate plus the Applicable Margin.
(c) Interest on each Eurodollar Loan shall, except as otherwise provided in this Agreement, be payable on the last day of the Interest Period applicable thereto and, in case of a Eurodollar Loan with an Interest Period of more than three months' duration, each day that would have been an interest payment date for such Loan had successive Interest Periods of three months' duration been applicable to such Loan, and during on the continuationTermination Date or any earlier date on which this Agreement is, pursuant to its terms and conditions, terminated. Interest on each Base Rate Loan shall be payable quarterly in arrears on the last Business Day of each March, June, September and December, except as otherwise provided in this Agreement and on the Termination Date or any earlier date on which this Agreement is, pursuant to its terms and conditions, terminated. The applicable Eurodollar Rate or Base Rate for each Interest Period or day within an Event of Default under Section 7.1(a) orInterest Period, at as the option case may be, shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. Interest on each Fixed Rate Loan shall be payable on the last day of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus applicable to the Borrowing of which such Loan is a part and, in the case of a Fixed Rate Borrowing with an additional 2% per annum until Interest Period of more than three months' duration (unless otherwise specified in the applicable Competitive Bid Request), each day prior to the last day of such Interest Period, and thereafter, and any other dates that are specified in the applicable Competitive Bid Request as interest payment dates with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest PeriodBorrowing, and on the Commitment Termination Date. Interest Date or any earlier date on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demandthis Agreement is, pursuant to its terms and conditions, terminated.
(d) As used herein, "Applicable Margin" shall mean the sum of (i) the applicable percentage per annum specified in the table below, to be determined based upon the Ratings received by Weyerhaeuser from S&P and Moody's, and (ii) the Utilization Fee. The Administrative Agent applicable percentage re▇▇▇▇▇▇ to in clause (i) of the immediately preceding sentence shall be determined based upon the Ratings, as follows: LEVEL 1 LEVEL 2 LEVEL 3 LEVEL 4 LEVEL 5 ------------ ------- ------- ------- ---------- S&P: A- or better BBB+ BBB BBB- Below BBB- Moody's: A3 or better Baa1 Baa2 Baa3 Bel▇▇ ▇▇▇▇ Eurodollar Loan: 0.260% 0.34% 0.375% 0.575% 0.775% Base Rate Loan: 0.0000% 0.0000% 0.0000% 0.0000% 0.000% The Applicable Margin shall change effective as of the date on which the applicable rating agency announces any change in its Ratings. In the event either S&P or Moody's shall withdraw or suspend its Ratings, the remaining Rating ▇▇▇▇▇▇ced by either S&P or Moody's, as the case may be, shall apply. In the event neither agen▇▇ ▇▇▇▇l provide a Rating, the Applicable Margin shall be based on the lowest rating provided above. If the Ratings by S&P and Moody's are split so that two consecutive Levels (as defined in the ▇▇▇▇▇ above) apply, the higher of those Ratings shall determine each interest rate the Applicable Margin. If the Ratings by S&P and Moody's are split so that the applicable to Levels in the Loans hereunder table above ▇▇▇ ▇▇▇arated by only one intermediate Level, then such intermediate Level shall determine the Applicable Margin. If the Ratings by S&P and Moody's are split so that the applicable Levels in the table above ▇▇▇ ▇▇▇arated by two intermediate Levels, then the intermediate Level representing the lowest Rating shall promptly notify determine the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing)Applicable Margin. Any such determination The Applicable Margin shall be conclusive calculated by the Administrative Agent, which calculation absent manifest error shall be final and binding for on all purposes, absent manifest errorparties.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Competitive Bid Eurodollar Loan at the occurrenceCompetitive Bid Rate quoted by the Lender making such Loan pursuant to Section 2.7(c) and accepted by the Borrower pursuant to Section 2.7(d).
(c) The Borrower shall pay interest on each Swingline Loan at the Swingline Rate in effect from time to time.
(d) Notwithstanding clause (a) and (b) above, and during the continuation, of while an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans and Competitive Bid Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than LoansLoans and LC Exposure), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(ce) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December Fiscal Quarter and on the Revolving Commitment Termination Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(df) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time plus the Applicable Margin in effect from time to time, and the Borrower shall pay interest on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, plus the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate.
(c) If an Event of Default under Section 7.1(a) orhas occurred or is continuing, and at the option any time after acceleration of the Required Lenders, any other Event Loans pursuant to the last paragraph of DefaultSection 8.1, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December Fiscal Quarter and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on each Swingline Loans shall be payable quarterly in arrears on the last day of each Fiscal Quarter, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on each Swingline Loan (other than a Swingline Loan that is a Base Rate Loan which shall be payable as set forth above) shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Tc Pipelines Lp)
Interest on Loans. (a) The Borrower Except as otherwise set forth herein, each Loan shall pay bear interest on each the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof as follows:
(i) if a Eurodollar Rate Loan,
(A) for the First Interest Period, at the Adjusted Eurodollar Rate plus the Applicable Margin;
(B) for any subsequent Interest Period, the sum of (1) the greater of (x) the Adjusted Eurodollar Rate as of the Reset Date for such Interest Period, and (y) the Adjusted Eurodollar Rate applicable to Eurodollar Rate Loans during the immediately preceding Interest Period, plus (2) the Applicable Margin; or
(ii) if a Base Rate Loan Loan, at the Base Rate in effect from time to time and plus the Applicable Margin.
(b) [Reserved].
(c) As soon as practicable after 10:00 a.m. (New York City time) on each Interest Rate Determination Date, Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the Eurodollar Loan at the Adjusted LIBO Rate Loans for which an interest rate is then being determined for the applicable Interest Period in effect for such Loan, plus, in and shall promptly give notice thereof to Borrower and each case, the Applicable Margin in effect from time to timeLender.
(bd) Upon Interest payable pursuant to Section 2.8(a) shall be computed (i) in the occurrencecase of Eurodollar Rate Loans, on the basis of a 360-day year, and during (ii) in the continuation, case of an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount basis of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last a 360-day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, andyear (or, in the case of Base Rate Loans determined by reference to the “Prime Rate”, a 365-day or 366-day year, as applicable), as the case may be, in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Eurodollar Loans having Loan, the date of the making of such Loan or the first day of an Interest Period in excess applicable to such Loan or, with respect to a Term Loan, the last Interest Payment Date with respect to such Term Loan or, with respect to a Base Rate Loan being converted from a Eurodollar Rate Loan, the date of three monthsconversion of such Eurodollar Rate Loan to such Base Rate Loan, as the case may be, shall be included, and the date of payment of such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to a Base Rate Loan being converted to a Eurodollar Rate Loan, the date of conversion of such Base Rate Loan to such Eurodollar Rate Loan, as the case may be, shall be excluded; provided, if a Loan is repaid on the same day on which it is made, one day’s interest shall be paid on that Loan.
(e) Except as otherwise set forth herein, interest on each day which occurs every three months after Loan (i) shall accrue on a daily basis and shall be payable in arrears on each Interest Payment Date with respect to interest accrued on and to each such payment date; (ii) shall accrue on a daily basis and shall be payable in arrears upon any prepayment of that Loan, whether voluntary or mandatory, to the initial date of such Interest Period, and extent accrued on the Commitment Termination Date. Interest amount being prepaid; and (iii) shall accrue on a daily basis and shall be payable in arrears at maturity of the Loans, including final maturity of the Loans; provided, however, with respect to any Loan which is converted into voluntary prepayment of a Loan of another Type or which is repaid or prepaid Base Rate Loan, accrued interest shall instead be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default applicable Interest shall be payable on demandPayment Date.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Bridge Credit and Guaranty Agreement (Leonardo DRS, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceBase Rate in effect from time to time, and during plus the continuation, of Applicable Margin in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans (including all Swingline Loans) and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on each Swingline Loan shall be payable quarterly in arrears on the last day of each March, June, September and December, and on the Swingline Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit and Letter of Credit Loan Agreement (Us Xpress Enterprises Inc)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrenceSwingline Rate in effect from time to time.
(c) Notwithstanding clauses (a) and (b) above, and during the continuation, of while an Event of Default under Section 7.1(a) orexists, at the option of the Required Lenders, any other Event of Defaultand after acceleration, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans, all Swingline Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans and Swingline Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, Notwithstanding subsection (a) of an Event of Default under Section 7.1(a) orthis Section, at the option of the Required Lenders, any other Lenders if an Event of DefaultDefault has occurred and is continuing, and automatically after acceleration or with respect to any past due amount hereunder, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (Ring Energy, Inc.)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of If an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum. If the Bridge Loan is not paid in full on the Maturity Date, interest shall accrue on the outstanding balance of the Bridge Loan from and after such date at a per annum interest rate equal to the Base Rate plus the Applicable Margin plus 4% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each MarchDecember 31, June2002, March 31, 2003, June 30, 2003, September and December 30, 2003, and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which that occurs every three months months, after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which that is converted into a Loan of another Type or which that is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of While an Event of Default under Section 7.1(a) or, at the option of the Required Lenders, any other Event of Defaultexists (including after acceleration), the Borrower shall pay interest (“Default Interest”) ), after receiving written notice from the Administrative Agent, with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% two and one-half percent (2.5%) per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in rate in effect for Base Rate Loans, plus an additional 2% two and one-half percent (2.5%) per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon The Borrower shall pay interest on each Swingline Loan at the occurrence, and during the continuation, of Swingline Rate in effect from time to time.
(c) While an Event of Default under Section 7.1(a) orexists or after acceleration, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum.
(cd) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three monthsmonths or 90 days, respectively, on each day which occurs every three months or 90 days, as the case may be, after the initial date of such Interest Period, and on the Revolving Commitment Termination Date or the Maturity Date, as the case may be. Interest on each Swingline Loan shall be payable on the maturity date of such Loan, which shall be the last day of the Interest Period applicable thereto, and on the Revolving Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(de) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (FGX International Holdings LTD)
Interest on Loans. (a) The Borrower shall pay interest on each Base Rate Loan at the Base Rate in effect from time to time and on each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, of If an Event of Default under Section 7.1(a) orhas occurred and is continuing, at the option of the Required Lenders, any other Event of Default, the Borrower shall pay interest (“"Default Interest”") with respect to all Eurodollar Loans at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect for Base Rate Loans, plus an additional 2% per annum. If the Bridge Loan is not paid in full on the Maturity Date, interest shall accrue on the outstanding balance of the Bridge Loan from and after such date at a per annum interest rate equal to the Base Rate plus the Applicable Margin plus 4% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including the date such Loans are made to but excluding the date of any repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each MarchDecember 31, June2002, September and December March 31, 2003, and on the Commitment Termination Maturity Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which that occurs every three months months, after the initial date of such Interest Period, and on the Commitment Termination Maturity Date. Interest on any Loan which that is converted into a Loan of another Type or which that is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Interest on Loans. (a) The Borrower shall pay interest on (i) each Base Rate Loan at the Base Rate plus the Applicable Margin in effect from time to time and on (ii) each Eurodollar Loan at the Adjusted LIBO Rate for the applicable Interest Period in effect for such Loan, plus, in each case, Loan plus the Applicable Margin in effect from time to time.
(b) Upon the occurrence, and during the continuation, Notwithstanding subsection (a) of an Event of Default under Section 7.1(a) orthis Section, at the option of the Required Lenders, any other Lenders if an Event of DefaultDefault has occurred and is continuing, and automatically after acceleration or with respect to any past due amount hereunder, the Borrower shall pay interest (“Default Interest”) with respect to all Eurodollar Loans at the rate per annum equal to 200 basis points above the otherwise applicable interest rate for such Eurodollar Loans for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to all Base Rate Loans and all other Obligations hereunder (other than Loans), at an all-in the rate in effect per annum equal to 200 basis points above the otherwise applicable interest rate for Base Rate Loans, plus an additional 2% per annum.
(c) Interest on the principal amount of all Loans shall accrue from and including including the date such Loans are made to but excluding the date of any repayment repayment thereof. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Commitment Termination Date. Interest on all outstanding Eurodollar Loans shall be payable on the last day of each Interest Period applicable thereto, and, in the case of any Eurodollar Loans having an Interest Period in excess of three months, on each day which occurs every three months after the initial date of such Interest Period, and on the Commitment Termination Date. Interest on any Loan which is converted into a Loan of another Type or which is repaid or prepaid shall be payable on the date of such conversion or on the date of any such repayment or prepayment (on the amount repaid or prepaid) thereof. All Default Interest shall be payable on demand.
(d) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (or by telephone, promptly confirmed confirmed in writing). Any such determination shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (Ring Energy, Inc.)