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Interest Payable
Sample Clauses
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Interest Payable
.
With respect to each
Receivable
,
interest will
be
charged
and
payable
on the
unpaid principal balance
of the Receivable since the
date of
the last
payment on
the Receivable (and
in all cases
will be charged since the
Cutoff Date
).
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Interest Payable
. The
provision for
cumulation
of interest should have careful
attention
, particularly if
the interest rate
is
high
. Cumulation has the
effect of
adding
the interest to
the capital
, so that the ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ " ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ", ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ( ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ).
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Interest Payable
. On and after any
Redemption Date
for
the Notes
,
interest will
cease
to
accrue
on the Notes or any
portion
thereof called for redemption, unless
the Company
defaults
in the
payment of the Redemption Price
.
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Interest Payable
. Except as otherwise
set forth
herein, interest on each
Loan shall
accrue
on a daily basis
and be
payable
in arrears
(i)
on each Interest Payment Date
applicable to
that Loan; (ii)
concurrently
with 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
;
provided
,
with respect to
any
voluntary prepayment
of a
Revolving Loan outstanding
as a
Base Rate Loan
,
accrued interest
shall
instead
be payable on the
applicable Interest
Payment Date.
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Interest Payable
. The
provision for
cumulation
of interest should have careful
attention
, particularly if the
rate of interest
is
high
. Cumulation has the
effect of
adding
the interest
to
the capital
, so that ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■
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Interest Payable
.
Interest accruing
on
a Loan
at a LIBOR-
Based
Rate (a "
LIBOR Loan
") shall be
payable
(A) on the last
day of
the
applicable Interest Period
(as
defined
below); (B) upon
maturity
of the
particular
Credit Facility
; (C) upon acceleration of
repayment of the Loan
; (D) if the
LIBOR Interest Period
(as defined herein) is
six months
, on the ninetieth (90th) day of that Interest Period, as well as on the last day of
the Interest Period
; or (E) if the Loan is
subject to
an
interest rate swap agreement
, on the
dates
payments
are
contemplated
under
the interest rate
swap
agreement to
which the Loan is subject.
In the case of an
Optional Currency Advance
, LIBOR shall mean the
rate per annum
for
deposits
of
the Optional
Currency in
question
offered
to the Bank
in the
London Interbank market
two (2) Business Days
prior to the
first day
of such Interest Period for deposits of the Optional Currency in question for a
period of time
comparable
to the Interest Period for, and in an amount comparable to
the principal amount
of,
the Advance
sought
by the Borrower
. This
determination of LIBOR
is
referred
to herein as the "Optional Currency LIBOR."
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Interest Payable
. Except as otherwise
set forth
herein, interest on each
Loan shall
accrue
on a daily basis
and be
payable
in arrears
in cash (i)
on each Interest Payment Date
applicable to
that Loan;
provided that
at the
discretion
of the Borrower
, the Borrower may
choose
,
in lieu of
making such
payment in cash
,
to pay
a portion
of the
Applicable Margin
up to 5.50%
per annum
of
the principal amount
of such
Loan by
adding
such amount to the principal amount of such Loan then
outstanding
so
long
as the Borrower
delivers
a written
notice of
such
election
to
the Administrative Agent
in
substantially
the
form
attached hereto as
Exhibit A-3
at least
one Business Day
prior to the
applicable Interest
Payment Date (or,
in connection with
a
Eurodollar Loan
,
concurrently
with the
delivery of a
Conversion/
Continuation Notice
in respect of
such Eurodollar Loan) and specifies in
such notice
the
amount of interest
it elects to add to the principal amount of such Loan in lieu of
making payment
in cash; (ii) concurrently with any
prepayment
of that Loan, whether
voluntary
or
mandatory
,
to the extent
accrued
on the amount being
prepaid
; and (
iii
)
at maturity
,
including
the
Initial Term Loan Maturity Date
.
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Interest Payable
.
To the fullest extent permitted under applicable law
,
interest
shall
continue
to
accrue
on
the Loan
after the
filing
by or
against Borrower
of a
petition
seeking
relief in bankruptcy
or under any
act or law
pertaining to
insolvency
or
debtor relief
, whether
state
,
federal
or
foreign
.
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Interest Payable
. The
amount of interest
payable
in respect of
any Senior Note for any Senior Advance
Interest Period shall
be
calculated
by the
Transaction Agent
by applying
the Interest Rate
to the
Senior Note Principal Amount Outstanding
of such Senior Note (
considered
at the end of
such Interest Period) and multiplying by a
fraction
, the
numerator
of which is the actual number of
days in
the
relevant Interest Period
and the
denominator
of which is 360
rounded to
the
nearest
two
decimal places
.
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Interest Payable
. Subject to the provisions of
Section 4.1
,
Borrower shall
pay
interest on the
unpaid principal amount
from time to time
outstanding
under
Facility A
,
in arrears
, at a rate
equal to
the
Prime Rate
plus
1.00%.
For the avoidance of doubt
,
the interest
to be paid
pursuant to
this
Section 2.3
shall
float
as the Prime
Rate changes
.
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