Interest on U. S. Government securities held in any Pledge Account will be credited by Bank in Federal funds to the Fund's custody account (but not to the Pledge Account) on the date that such funds are received. Amounts due on U.S. Government securities which mature or are redeemed will be credited to the Pledge Account in Federal funds on the date funds are received.
Interest on U. S. Prime Rate Advances shall be calculated and payable in arrears (i) on the first Business Day of each month, and (ii) when the Advance becomes due and payable in full, is repaid, or is converted to a Libor Rate Advance or Accommodation. Interest on Libor Rate Advances shall be calculated and payable (ii) on the last day of the third month of the Libor Interest Period, if the Libor Interest Period is six months, and (iv) on the last day of the Libor Interest Period. __________________________________
Interest on U. S. PRIME RATE LOANS
Interest on U. S. Base Rate Loans The Borrower shall pay interest on each U.S. Base Rate Loan owing by it during each Interest Period applicable thereto in United States Dollars at a rate per annum equal to the U.S. Base Rate in effect from time to time during such Interest Period plus the Applicable Pricing Rate. Each determination by the Agent of the U.S. Base Rate applicable from time to time during an Interest Period shall, in the absence of manifest error, be prima facie evidence thereof. Such interest shall accrue daily and be payable in arrears on each Interest Payment Date for such Loan for the period from and including the Drawdown Date or the preceding Conversion Date or Interest Payment Date, as the case may be, for such Loan to and including the day preceding such Interest Payment Date and shall be calculated on the principal amount of the U.S. Base Rate Loan outstanding during such period and on the basis of the actual number of days elapsed in a year of 365 days. Changes in the U.S. Base Rate shall cause an immediate adjustment of the interest rate applicable to such Loans without the necessity of any notice to the Borrower.
Interest on U. S. Swingline Loans. Subject to the provisions of Section 2.6, U.S. Swingline Loans shall bear interest at a per annum rate equal to the Alternate Base Rate plus the Applicable Margin for Revolving Loans that are Alternate Base Rate Loans. Interest on U.S. Swingline Loans shall be payable in arrears on each Interest Payment Date.
Interest on U. K. Revolving Loans. Subject to the provisions of Section 2.10, U.K. Revolving Loans shall bear interest at a per annum rate equal to the LIBOR Rate plus the Applicable Percentage.
Interest on U. S. Base Rate Loans
Interest on U. S. Prime Rate Loans
Interest on U. S. Swing Loans. Each U.S. Swing Loan shall bear interest until maturity (whether by acceleration or otherwise) at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the U.S. Revolving Credit as from time to time in effect (computed on the basis of a year of 365 or 366 days, as the case may be, for the actual number of days elapsed) or (ii) the Administrative Agent's Quoted Rate (computed on the basis of a year of 360 days for the actual number of days elapsed). Interest on each U.S. Swing Loan shall be due and payable prior to such maturity on the last day of each Interest Period applicable thereto.
Interest on U. S. Base Rate Loans The Borrower shall pay interest on each U.S. Base Rate Loan during each Interest Period applicable thereto in United States Dollars at a rate per annum, calculated on the basis of a 365 day year, equal to the U.S. Base Rate in effect from time to time during such Interest Period plus the Applicable USBR Margin. Such interest shall accrue daily and shall be payable in arrears on each Interest Payment Date for such Loan for the period from and including the Drawdown Date or the preceding Conversion Date or Interest Payment Date, as the case may be, for such Loan to and including the day preceding such Interest Payment Date and shall be calculated on the principal amount of the U.S. Base Rate Loan outstanding during such period and on the basis of the actual number of days elapsed in a year of 365 days. Changes in the U.S. Base Rate or the Applicable USBR Margin shall cause an immediate adjustment of the interest rate applicable to such Loan without the necessity of any notice to the Borrower.
