Common use of Interest Payments; Default Interest Clause in Contracts

Interest Payments; Default Interest. (a) Interest on the unpaid principal of all ABR Borrowings of the Term Loan from time to time outstanding shall be payable in immediately available funds quarterly in arrears on the first day of each February, May, August and November (in respect of the preceding three months or any portion thereof). Whenever any payment under this Section 4.06 shall become due on a day that is not a Business Day, the date for payment shall be extended to the next Business Day. Interest accruing on ABR Borrowings of the Term Loan shall be computed on the basis of a 360-day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Alternate Base Rate on the date of such change in the Alternate Base Rate.

Appears in 2 contracts

Samples: Credit Agreement (RSP Permian, Inc.), Credit Agreement (RSP Permian, Inc.)

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Interest Payments; Default Interest. (a) Interest on the unpaid principal of all ABR Borrowings Base Rate Advances of the Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Base Rate, and shall be payable in immediately available funds quarterly monthly in arrears commencing on December 1, 2010, and on the first day of each February, May, August and November (in respect of the preceding three months or any portion thereof)month thereafter. Whenever any payment under this Section 4.06 4.6 shall become due on a day that is not a Business Day, the date for payment shall be extended to the next Business Day. Interest accruing on ABR Borrowings of at the Term Loan Base Rate shall be computed on the basis of a 360-360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Alternate Base Rate on the date of such change in the Alternate Base Rate.

Appears in 1 contract

Samples: Credit Agreement (National Technical Systems Inc /Ca/)

Interest Payments; Default Interest. (a) Interest on the unpaid principal of all ABR Borrowings Base Rate Advances of the Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Base Rate, and shall be payable in immediately available funds quarterly in arrears commencing on January 1, 2012, and on the first day of each February, May, August and November (in respect of the preceding three months or any portion thereof)calendar quarter thereafter. Whenever any payment under this Section 4.06 4.6 shall become due on a day that is not a Business Day, the date for payment shall be extended to the next Business Day. Interest accruing on ABR Borrowings of at the Term Loan Base Rate shall be computed on the basis of a 360-360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Alternate Base Rate on the date of such change in the Alternate Base Rate.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Quinstreet, Inc)

Interest Payments; Default Interest. (a) Interest on the unpaid principal of all ABR Borrowings Base Rate Advances of the Term Loan Loans from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Base Rate, and shall be payable in immediately available funds quarterly in arrears commencing on July 1, 2013, and on the first day of each February, May, August and November (in respect of the preceding three months or any portion thereof)calendar quarter thereafter. Whenever any payment under this Section 4.06 4.6 shall become due on a day that is not a Business Day, the date for payment shall be extended to the next Business Day. Interest accruing on ABR Borrowings of at the Term Loan Base Rate shall be computed on the basis of a 360-360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Alternate Base Rate on the date of such change in the Alternate Base Rate.

Appears in 1 contract

Samples: And Term Loan Agreement (RetailMeNot, Inc.)

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Interest Payments; Default Interest. (a) Interest on the unpaid principal of all ABR Borrowings Base Rate Advances of the Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Base Rate, and shall be payable in immediately available funds quarterly in arrears commencing on April 1, 2010, and on the first day of each February, May, August and November (in respect of the preceding three months or any portion thereof)calendar quarter thereafter. Whenever any payment under this Section 4.06 4.6 shall become due on a day that is not a Business Day, the date for payment shall be extended to the next Business Day. Interest accruing on ABR Borrowings of at the Term Loan Base Rate shall be computed on the basis of a 360-360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Alternate Base Rate on the date of such change in the Alternate Base Rate.

Appears in 1 contract

Samples: Assignment Agreement (Quinstreet, Inc)

Interest Payments; Default Interest. (a) Interest on the unpaid principal of all ABR Borrowings Base Rate Advances of the Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Base Rate, and shall be payable in immediately available funds quarterly in arrears commencing on April 1, 2015, and on the first day of each February, May, August and November (in respect of the preceding three months or any portion thereof)calendar quarter thereafter. Whenever any payment under this Section 4.06 4.6 shall become due on a day that is not a Business Day, the date for payment shall be extended to the next Business Day. Interest accruing on ABR Borrowings of at the Term Loan Base Rate shall be computed on the basis of a 360-360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Alternate Base Rate on the date of such change in the Alternate Base Rate.

Appears in 1 contract

Samples: And Term Loan Agreement (RetailMeNot, Inc.)

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