Common use of Interest Payment Dates; Interest and Fee Basis Clause in Contracts

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Advance shall be payable monthly, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of an invoice for such calendar month (or portion thereof in the case of September 2012). Interest accrued on each Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the first day of each calendar quarter during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthly, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest and fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime Rate and Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. (New York time) at the place of payment. If any payment of principal of or interest on a Loan shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 3 contracts

Sources: Credit Agreement (Horton D R Inc /De/), Credit Agreement (Horton D R Inc /De/), Credit Agreement (Horton D R Inc /De/)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Closing Date, with respect on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurodollar Advances, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, LC Fees and at maturity. Interest and all other fees under this Agreement hereunder shall be calculated for actual days elapsed on the basis of a 360-day year except that interest year. Interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. 12:00 noon (New York Louisville, Kentucky time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 3 contracts

Sources: Credit Agreement (Res Care Inc /Ky/), Credit Agreement (Res Care Inc /Ky/), Credit Agreement (Res Care Inc /Ky/)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Closing Date, with respect on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurodollar Advances, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, LC Fees and at maturity. Interest and all other fees under this Agreement hereunder shall be calculated for actual days elapsed on the basis of a 360-day year except that interest year. Interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. 12:00 noon (New York Chicago, Illinois time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 3 contracts

Sources: Credit Agreement (Chemed Corp), Credit Agreement (Chemed Corp), Credit Agreement (Chemed Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthly, with such payment being due, with respect to any in arrears on the first day of each calendar month, not later commencing with the first such date to occur after the Closing Date, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurodollar Advances, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, LC Fees and at maturity. Interest and all other fees under this Agreement hereunder shall be calculated for actual days elapsed on the basis of a 360-day year except that interest year. Interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. 12:00 noon (New York Phoenix, Arizona time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 3 contracts

Sources: Credit Agreement (Encore Capital Group Inc), Credit Agreement (Encore Capital Group Inc), Credit Agreement (Encore Capital Group Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyon each Payment Date, commencing with the first such payment being duedate to occur after the date hereof, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of an invoice for such calendar month (or portion thereof in the case of September 2012)and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate such Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance All computations of interest for Floating Rate Loans when the Alternate Base Rate is determined by the Prime Rate shall be payable monthlymade on the basis of a year of 365 or 366 days, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in as the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwisemay be, and at maturityactual days elapsed. Interest All other computations of interest and fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime Rate and Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. (New York City time) at the place of paymentpayment (it being understood that the Administrative Agent shall be deemed to have received a payment prior to 1:00 p.m. (New York City time) if (x) the Borrower has provided the Administrative Agent with evidence satisfactory to the Administrative Agent that the Borrower has initiated a wire transfer of such payment prior to such time and (y) the Administrative Agent actually receives such payment on the same Business Day on which such wire transfer was initiated). If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 2 contracts

Sources: Credit Agreement (Kansas City Power & Light Co), Credit Agreement (Kansas City Power & Light Co)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyon each Payment Date, with on any date on which such payment being dueFloating Rate Advance is prepaid, with respect whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate such Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthly, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest and fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (year or, if applicablewhen appropriate, a 366-day) day year. All other interest and all fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. noon (New York time) at the place of payment. If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 2 contracts

Sources: Credit Agreement (Portland General Electric Co /Or/), Credit Agreement (Portland General Electric Co /Or/)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Alternate Base Rate Advance shall be payable monthlyon each Payment Date, commencing with the first such payment being duedate to occur after the date hereof, on any date on which an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Alternate Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid (with respect to the principal so prepaid), whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthly, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, Eurodollar Loans and at maturity. Interest and facility fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime year. Interest with respect to Alternate Base Rate and Absolute Rate Advances Loans shall be calculated for the actual days elapsed on the basis of a 365365 or 366-day (oryear, if as applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is made in full and received prior to 1:00 p.m. noon (New York time) at the place of payment. If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 2 contracts

Sources: Credit Agreement (Aon Corp), Credit Agreement (Aon Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Closing Date, with respect on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurodollar Advances, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, LC Fees and at maturity. Interest and all other fees under this Agreement hereunder shall be calculated for actual days elapsed on the basis of a 360-day year except that interest year. Interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. 12:00 noon (New York Salt Lake City, Utah time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 2 contracts

Sources: Credit Agreement (Headwaters Inc), Credit Agreement (Headwaters Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyon each Payment Date, commencing with the first such payment being duedate to occur after the date hereof, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of an invoice for such calendar month (or portion thereof in the case of September 2012)and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate such Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance All computations of interest for Floating Rate Loans when the Alternate Base Rate is determined by the Prime Rate shall be payable monthlymade on the basis of a year of 365 or 366 days, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in as the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwisemay be, and at maturityactual days elapsed. Interest All other computations of interest and fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime Rate and Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. (New York Charlotte, North Carolina time) at the place of paymentpayment (it being understood that the Administrative Agent shall be deemed to have received a payment prior to 1:00 p.m. (Charlotte, North Carolina time) if (x) the Borrower has provided the Administrative Agent with evidence satisfactory to the Administrative Agent that the Borrower has initiated a wire transfer of such payment prior to such time and (y) the Administrative Agent actually receives such payment on the same Business Day on which such wire transfer was initiated). If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 2 contracts

Sources: Credit Agreement (Great Plains Energy Inc), Credit Agreement (Great Plains Energy Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Closing Date, with respect on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurocurrency Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurocurrency Advances, with such payment being dueSwing Line Loans, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, LC Fees and at maturity. Interest and all other fees under this Agreement hereunder shall be calculated for actual days elapsed on the basis of a 360-day year year, except that for interest on ABR Advances made at the Prime Rate and Absolute Rate Advances Revolving Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day (or, if applicable, 366year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day) day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (Patterson Dental Co)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Effective Date, with respect on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurodollar Advances, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, Facility Fees and at maturity. Interest and fees under this Agreement Utilization Fees shall be calculated for actual days elapsed on the basis of a 360-day year except that year; interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. 12:00 noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: 364 Day Revolving Credit Agreement (Acuity Brands Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Alternate Base Rate Advance shall be payable monthlyon each Payment Date, commencing with the first such payment being duedate to occur after the date hereof, with respect on any date on which an Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Alternate Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthly, with such payment being due, with respect to any calendar monthEurodollar Loans, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of Octoberfacility fees, 2022)utilization fees, on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, LC Fees and at maturity. Interest and term out fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime year. Interest with respect to Alternate Base Rate and Absolute Rate Advances Loans shall be calculated for the actual days elapsed on the basis of a 365365 or 366-day (oryear, if as applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is made in full and received prior to 1:00 p.m. noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Aon Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Closing Date, with respect and at maturity, whether due to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of an invoice for such calendar month (acceleration or portion thereof in the case of September 2012)otherwise. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurodollar Advances, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, LC Fees and at maturity. Interest and all other fees under this Agreement hereunder shall be calculated for actual days elapsed on the basis of a 360-day year except that interest year. Interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment (unless payment is on the same date as the Advance) on the amount paid if payment is received prior to 1:00 12:00 p.m. (New York Chicago time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (Tesoro Trading Co)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthly, with such payment being due, with respect to any on the last day of each calendar month, not later commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than the fifth last day after submission by the Administrative Agent to the Borrower of an invoice for such any calendar month (or portion thereof in shall be payable on the case date of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance Floating Rate Advances shall be payable monthly, with such payment being due, with respect to any calendar month, not later than calculated for actual days elapsed on the fifth basis of a 365/366-day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, and at maturityyear. Interest on Eurodollar Advances, commitment fees and fees under this Agreement LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime Rate and Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. noon (New York local time) at the place of payment. If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment. Notwithstanding the foregoing, the Borrower will pay to the Agent, for the account of each Lender, interest at the applicable rate in accordance with Section 2.11.

Appears in 1 contract

Sources: Credit Agreement (Shaw Group Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Closing Date, with respect on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurodollar Advances, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, LC Fees and at maturity. Interest and all other fees under this Agreement hereunder shall be calculated for actual days elapsed on the basis of a 360-day year except that interest year. Interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. pm (New York City time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (Headwaters Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Closing Date, with respect on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurodollar Advances, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, Facility Fees and at maturity. Interest and fees under this Agreement Utilization Fees shall be calculated for actual days elapsed on the basis of a 360-day year except that year; interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. 12:00 noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: 364 Day Revolving Credit Agreement (Acuity Brands Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on ---------------------------------------------- each ABR Floating Rate Advance shall be payable monthlyon each Payment Date, commencing with the first such payment being duedate to occur after the date hereof, with respect on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthly, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, Eurodollar Advances and at maturity. Interest Facility Fees and fees under this Agreement Utilization Fees shall be calculated for actual days elapsed on the basis of a 360-day year except that year, and interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. noon (New York local time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Sources: Revolving Credit Agreement (DPL Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyon each Payment Date, with on any date on which such payment being dueFloating Rate Advance is prepaid, with respect whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate such Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three‑month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthly, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest and fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (year or, if applicablewhen appropriate, a 366-day) day year. All other interest and all fees shall be calculated for actual days elapsed on the basis of a 360‑day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. noon (New York time) at the place of payment. If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (Portland General Electric Co /Or/)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with such payment being duethe first Payment Date to occur after the Funding Date, with respect on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthly, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, Advances and at maturity. Interest and all other fees under this Agreement hereunder shall be calculated for actual days elapsed on the basis of a 360-day year year, except that for interest on ABR Advances made at Loans determined by reference to the Prime Rate and Absolute Rate Advances Rate, which shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. 12:00 noon (New York City time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Loan Agreement (Patterson Companies, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR CB Floating Rate Advance shall be payable monthlyon each Payment Date, commencing with the first such payment being due, with respect date to any calendar month, not later than occur after the fifth day after submission by the Administrative Agent to the Borrower of an invoice for such calendar month (or portion thereof in the case of September 2012)date hereof. Interest accrued on each Fixed Rate EurodollarSOFR Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate EurodollarSOFR Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate the Maturity Date; provided, for any EurodollarSOFR Advance having an Interest Period longer than three months (3) months, interest accrued on such EurodollarSOFR Advance shall also be payable on each three (3) month anniversary following the first day of each calendar quarter during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthly, with such payment being due, hereunder with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR CB Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest and fees under this Agreement shall be calculated on the basis of a year of 365 days (or 366 days, as applicable) for the actual days elapsed elapsed. All other fees and interest payable hereunder shall be calculated on the basis of a 360-day year except that interest on ABR Advances made at for the Prime Rate and Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (or, if applicable, 366-day) yearelapsed. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. P.M. (New York Fort Worth, Texas time) at the place of paymentLending Installation for the Agent. If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (FirstCash Holdings, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Closing Date, with respect on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any calendar month, not later Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the fifth day after submission by the Administrative Agent to the Borrower date of an invoice for such calendar month (or portion thereof in the case of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance shall be payable monthlyEurodollar Advances, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, LC Fees and at maturity. Interest and all other fees under this Agreement hereunder shall be calculated for actual days elapsed on the basis of a 360-day year except that interest year. Interest on ABR Advances made at the Prime Rate and Absolute Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365-365/366- day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. 12:00 noon (New York Chicago, Illinois time) at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (Roto-Rooter Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Floating Rate Advance shall be payable monthly, with such payment being due, with respect to any on the last day of each calendar month, not later commencing with the first such date to occur after the Closing Date, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than the fifth last day after submission by the Administrative Agent to the Borrower of an invoice for such any calendar month (or portion thereof in shall be payable on the case date of September 2012)conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance Floating Rate Advances shall be payable monthly, with such payment being due, with respect to any calendar month, not later than calculated for actual days elapsed on the fifth basis of a 365/366-day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, and at maturityyear. Interest on Eurodollar Advances, commitment fees and fees under this Agreement LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime Rate and Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. noon (New York local time) at the place of payment. If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment. Notwithstanding the foregoing, the Borrower will pay to the Agent, for the account of each Lender, interest at the applicable rate in accordance with Section 2.11.

Appears in 1 contract

Sources: Credit Agreement (Shaw Group Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Base Rate Advance shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being duedate to occur after the Closing Date, with respect on any date on which the Base Rate Advance is prepaid, whether due to any calendar monthacceleration or otherwise, not later than the fifth day after submission by the Administrative Agent to the Borrower of an invoice for such calendar month (or portion thereof in the case of September 2012)and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether due to by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance Base Rate Advances shall be payable monthlycalculated for actual days elapsed on the basis of a 365, with such payment being dueor when appropriate 366, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower year. All other computations of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, interest and at maturity. Interest and all other fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime Rate and Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 p.m. (New York time) noon at the place of payment. If any payment of principal of or interest on a Loan an Advance, any fee, or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest and fees in connection with such payment.

Appears in 1 contract

Sources: Term Loan Agreement (Enable Midstream Partners, LP)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Advance Alternate Base Rate Loan shall be payable monthlyin arrears on each Payment Date, commencing with the first such payment being due, date to occur after the Borrowing Date with respect to such Alternate Base Rate Loan and on any calendar monthdate on which the Alternate Base Rate Loan is prepaid, not later than whether due to acceleration or otherwise, and on the fifth day after submission by the Administrative Agent to the Borrower of an invoice for such calendar month (or portion thereof in the case of September 2012)Facility Termination Date. Interest accrued on each Fixed Rate Advance Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Fixed Rate Advance such Eurocurrency Loan is prepaid, whether due to by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Fixed Rate Advance Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the first last day of each calendar quarter three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Advance pursuant to Section 2.11 shall be payable monthly, with such payment being due, with on demand. With respect to any calendar month, not later (a) interest on all Loans (other than Alternate Base Rate Loans where the fifth day after submission by interest is based on the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022Alternate Base Rate), on any date on which the Daily Simple SOFR Advance is prepaidCommitment Fees and other fees hereunder, whether due to acceleration such interest or otherwise, and at maturity. Interest and fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that and (b) interest on ABR Advances made at Loans which are Alternate Base Rate Loans where the Prime Rate and Absolute Rate Advances interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365365/366-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 1:00 2:00 p.m. (New York time) at the place of payment. If any payment of principal of or interest on a Loan Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)