OID. The Loans shall be funded net of original issue discount in the amount set forth in the Fee Letter. Such discount will be treated as original issue discount on the Loans for U.S. federal income tax purposes and will reduce the net issue price of the Initial Term Loans. Notwithstanding anything herein to the contrary, all calculations of interest and fees in respect of the Loans will be calculated on the basis of their full stated principal amount.
Appears in 2 contracts
Sources: Senior Secured Credit Agreement (Phoenix Capital Group Holdings, LLC), Senior Secured Credit Agreement (Phoenix Capital Group Holdings, LLC)