Common use of Interest Payment and Computation Clause in Contracts

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month commencing June 30, 2016; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, if such Interest Period extends over three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).”

Appears in 2 contracts

Samples: Credit Agreement (Azure Midstream Partners, Lp), Credit Agreement

AutoNDA by SimpleDocs

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month commencing June 30quarter occurring after the Closing Date and on the Term Loan Maturity Date, 2016; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate thereto and on the Term Loan outstanding as of the Amendment No. 4 Effective Maturity Date, and if such Interest Period extends over is longer than three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 2 contracts

Samples: Intercreditor Agreement (Beacon Roofing Supply Inc), Intercreditor Agreement (Beacon Roofing Supply Inc)

Interest Payment and Computation. (i) Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month quarter commencing June 30December 31, 20162015 and on the Maturity Date; and (ii) interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, and if such Interest Period extends over three (3) months, at the end of each three (3) month 3)-month interval during such Interest PeriodPeriod and on the Maturity Date. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate prime rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Term Loan Credit Agreement (South Jersey Industries Inc)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month commencing June 30quarter occurring after the Restatement Effective Date and on the Term Loan Maturity Date, 2016; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate thereto and on the Term Loan outstanding as of the Amendment No. 4 Effective Maturity Date, and if such Interest Period extends over is longer than three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Restatement and Lender Joinder Agreement (Beacon Roofing Supply Inc)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month quarter commencing June 30March 31, 2016; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, and if such Interest Period extends over three (3) months, at the end of each three (3) month interval during such Interest Period; and interest on each Swingline Loan shall be due and payable on the last Business Day of each calendar month. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Macquarie Infrastructure Corp)

Interest Payment and Computation. (i) Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month quarter commencing June 30December 31, 20162013 and on the Maturity Date; and (ii) interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, and if such Interest Period extends over three (3) months, at the end of each three (3) month 3)-month interval during such Interest PeriodPeriod and on the Maturity Date. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Term Loan Credit Agreement (South Jersey Industries Inc)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month quarter commencing with the calendar quarter ending on June 30, 20162018; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, and if such Interest Period extends over three (3) months, at the end of each three (3) month interval during such Interest Period; provided, that accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. All computations of interest for Base Rate Loans when the Base Rate is determined by based on the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Owens Corning)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable accrue in arrears on the last Business Day of each calendar month quarter and shall be due and payable on the third Business Day of the immediately following calendar quarter commencing June September 30, 20162011; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, and if such Interest Period extends over three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate and the Commitment Fee shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All LEGAL02/32557961v11 other computations of fees (other than the Commitment Fee) and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Amerigas Partners Lp)

AutoNDA by SimpleDocs

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month quarter commencing on June 30, 20162010; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, and if such Interest Period extends over three (3) months, at the end of each three (3) month interval during such Interest Period; provided, that accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. All computations of interest for Base Rate Loans when the Base Rate is determined by based on the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Owens Corning)

Interest Payment and Computation. (i) Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month quarter commencing June 30, 20162012 and on the Maturity Date; and (ii) interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, and if such Interest Period extends over three (3) months, at the end of each three (3) month 3)-month interval during such Interest PeriodPeriod and on the Maturity Date. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Term Loan Credit Agreement (South Jersey Industries Inc)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month quarter commencing June September 30, 20162012; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, and if such Interest Period extends over three (3) 3 months, at the end of each three (3) 3 month interval during such Interest Period; and interest on each Swingline Loan shall be due and payable on the last Business Day of each calendar month. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Macquarie Infrastructure CO LLC)

Interest Payment and Computation. (i) Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar month quarter commencing June September 30, 20162016 and on the Termination Date; and (ii) interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Amendment No. 4 Effective Date, and if such Interest Period extends over three (3) months, at the end of each three (3) month 3)-month interval during such Interest PeriodPeriod and on the Termination Date. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate prime rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: 364 Day Revolving Credit Agreement (South Jersey Industries Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.