Common use of Swingline Advances Clause in Contracts

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Swingline Rate for such Swingline Advance and (ii) the Maximum Rate, payable quarterly in arrears on the last Business Day of each calendar quarter, commencing with the calendar quarter ending September 30, 2012, and on the Maturity Date; provided that if any payment of principal on any Advance is not made when due, such Advances shall bear interest from the date such payment was due until such Advances are paid in full, at a rate per annum equal at all times to the lesser of (A) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (B) the Maximum Rate.

Appears in 1 contract

Samples: Assignment and Assumption (National Oilwell Varco Inc)

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Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Swingline Rate for such Swingline Advance and (ii) the Maximum Rate, payable quarterly in arrears on the last Business Day of each calendar quarter, commencing with the calendar quarter ending September 30, 20122005, and on the Maturity Date; provided that if any payment of principal on any Advance is not made when due, such Advances shall bear interest from the date such payment was due until such Advances are paid in full, at a rate per annum equal at all times to the lesser of (A) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (B) the Maximum Rate.

Appears in 1 contract

Samples: Credit Agreement (National Oilwell Varco Inc)

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Swingline Quoted Rate for such Swingline Advance and (ii) the Maximum Rate, payable quarterly in arrears on the last Business Day of each calendar quarterdate such Advance shall be paid in full, commencing with the calendar quarter ending September 30, 2012, and on the Maturity Date; provided that if any payment amount of principal on any Advance which is not made paid when duedue (whether at stated maturity, such Advances by acceleration or otherwise) shall bear interest from the date on which such payment was amount is due until such Advances are amount is paid in full, payable on demand, at a rate per annum equal at all times to the lesser of (Ai) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (Bii) the Maximum Rate.

Appears in 1 contract

Samples: First Amendment Agreement (Arkansas Best Corp /De/)

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Swingline Rate for such Swingline Advance and (ii) the Maximum Rate, payable quarterly in arrears on the last Business Day of each calendar quarter, commencing with the calendar quarter ending September June 30, 20122008, and on the Maturity Date; provided that if any payment of principal on any Advance is not made when due, such Advances shall bear interest from the date such payment was due until such Advances are paid in full, at a rate per annum equal at all times to the lesser of (A) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (B) the Maximum Rate.

Appears in 1 contract

Samples: Year Credit Agreement (National Oilwell Varco Inc)

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Swingline Rate for such Swingline Advance and (ii) the Maximum Rate, payable quarterly in arrears on the last Business Day of each calendar quarter, commencing with the calendar quarter ending September June 30, 20122017, and on the Maturity Date; provided that if any payment of principal on any Advance is not made when due, such Advances shall bear interest from the date such payment was due until such Advances are paid in full, at a rate per annum equal at all times to the lesser of (A) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (B) the Maximum Rate.

Appears in 1 contract

Samples: Assignment and Assumption (National Oilwell Varco Inc)

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Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Swingline Adjusted Prime Rate for such Swingline Advance in effect from time to time plus the Applicable Margin and (ii) the Maximum Rate, payable quarterly in arrears on the last Business Day of each calendar quarter, commencing with the calendar quarter ending September 30, 2012, and on the Maturity Datedate such Advance shall be paid in full; provided that if any payment of principal on any Advance is not made when due, such Advances shall bear interest from the date such payment was due until such Advances are paid in full, at a rate per annum equal at all times to the lesser of (A) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (B) the Maximum Rate.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

Swingline Advances. If such Advance is a Swingline Advance, ------------------ a rate per annum equal at all times to the lesser of (i) the Swingline Adjusted Prime Rate for such Swingline Advance in effect from time to time plus the Applicable Margin and (ii) the Maximum ---- Rate, payable quarterly in arrears on the last Business Day of each calendar quarter, commencing with the calendar quarter ending September 30, 2012, and on the Maturity Datedate such Advance shall be paid in full; provided that if any payment of principal on any Advance is not made when due, -------- such Advances shall bear interest from the date such payment was due until such Advances are paid in full, at a rate per annum equal at all times to the lesser of (A) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (B) the Maximum ---- Rate.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

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