Common use of Stated Interest Clause in Contracts

Stated Interest. Subject to the provisions of Section 2.08(b): (i) each Tranche 1 Revolving Credit Loan that is a Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to Adjusted Eurodollar Rate for such Interest Period plus the Applicable Rate for such Eurodollar Rate Loans; (ii) each Tranche 2 Revolving Credit Loan that is a Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to Adjusted Eurodollar Rate for such Interest Period plus the Applicable Rate for such Eurodollar Rate Loans; (iii) each Tranche 1 Revolving Credit Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing or conversion date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for such Base Rate Loan and (B) the Tranche 1 Base Rate Loan Floor Rate; (iv) each Tranche 2 Revolving Credit Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing or conversion date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for such Base Rate Loan and (B) the Tranche 2 Base Rate Loan Floor Rate; and (v) each Swing Line Loan and Protective Advance shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for Base Rate Loans and Protective Advances and (B) the Base Rate Loan Floor Rate.

Appears in 3 contracts

Samples: Credit Agreement (Dominion Textile (Usa), L.L.C.), Credit Agreement (Polymer Group Inc), Credit Agreement (Dominion Textile (Usa), L.L.C.)

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Stated Interest. Subject to the provisions of Section 2.08(b): (i) each Tranche 1 U.S. Revolving Credit Loan that is a Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to either the Adjusted Eurodollar Rate, the EURIBO Rate or the TIBOR Rate, as applicable, for such Interest Period plus the Applicable Rate for such Eurodollar Rate Loans, EURIBO Rate Loans or TIBOR Rate Loans, as applicable; (ii) each Tranche 2 Canadian Revolving Credit Loan that is a Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to Adjusted Eurodollar Rate for such Interest Period plus the Applicable Rate for such Eurodollar Rate Loans; (iii) each Tranche 1 Canadian Revolving Credit Loan that is a CDOR Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the CDOR Rate for such Interest Period plus the Applicable Rate for such CDOR Rate Loans; (iv) each U.S. Revolving Credit Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing or conversion date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for such Base Rate Loan and (B) the Tranche 1 Base Rate Loan Floor RateLoan; (ivv) each Tranche 2 Canadian Revolving Credit Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing or conversion date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for such Base Rate Loan; (vi) each Canadian Revolving Credit Loan and (B) the Tranche 2 Base that is a Canadian Prime Rate Loan Floor shall bear interest on the outstanding principal amount thereof from the applicable borrowing or conversion date at a rate per annum equal to the Canadian Prime Rate plus the Applicable Rate for such Canadian Prime Rate Loan, (vii) each SXXXX Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the SXXXX Rate for such Interest Period plus the Applicable Rate; and (vviii) each Swing Line Loan and Protective Advance shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for Base Rate Loans and Protective Advances and (B) the Base Rate Loan Floor RateAdvances.

Appears in 1 contract

Samples: Credit Agreement (Gates Industrial Corp PLC)

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