Common use of Eurodollar Advances Clause in Contracts

Eurodollar Advances. Each Eurodollar Advance shall bear interest during its Interest Period equal to at all times the Eurodollar Rate for such Interest Period plus the Applicable Margin for Eurodollar Advances for such period; provided that while an Event of Default is continuing, each Eurodollar Advance shall bear interest at the Eurodollar Rate in effect from time to time plus the Applicable Margin plus 2%. The Borrower shall pay to the Administrative Agent for the ratable benefit of each Lender all accrued but unpaid interest on each of such Lender’s Eurodollar Advances on the last day of the Interest Period therefor (provided that for Eurodollar Advances with six month Interest Periods, accrued but unpaid interest shall also be due on the day three months from the first day of such Interest Period), on the date any Eurodollar Advance is repaid in full, and on the Maturity Date; provided that if an Event of Default is continuing, interest shall be payable on demand.

Appears in 4 contracts

Samples: Credit Agreement (Helmerich & Payne Inc), Credit Agreement (Helmerich & Payne Inc), Credit Agreement (Rowan Companies Inc)

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Eurodollar Advances. Each Eurodollar Advance shall bear interest during its Interest Period equal to at all times the Eurodollar Rate for such Interest Period plus the Applicable Margin for Eurodollar Advances for such period; provided that while an Event of Default is continuing, each Eurodollar Advance shall bear interest at the Eurodollar Rate in effect from time to time plus the Applicable Margin plus 2%. The Borrower shall pay to the Administrative Agent for the ratable benefit account of each Lender all accrued but unpaid interest on each of such Lender’s Eurodollar Advances on the last day of the Interest Period therefor (provided that for Eurodollar Advances with six month Interest Periods, accrued but unpaid interest shall also be due on the day three months from the first day of such Interest Period), on the date any Eurodollar Advance is repaid in full, and on the Revolving Maturity Date or the Term Maturity Date; provided that if an Event of Default is continuing, interest shall be payable on demandas applicable.

Appears in 2 contracts

Samples: Credit Agreement (Flotek Industries Inc/Cn/), Credit Agreement (Flotek Industries Inc/Cn/)

Eurodollar Advances. Each Eurodollar Advance shall bear interest during its Interest Period equal to at all times the Eurodollar Rate for such Interest Period plus the Applicable Margin for Eurodollar Advances for such period; in effect from time-to-time, provided that (i) while an Event of Default pursuant to Section 6.1(a) is continuingcontinuing or (ii) while (A) any Event of Default other than pursuant to Section 6.1(a) is continuing and (B) the Agent has given the Borrower notice that the Majority Banks have exercised their right to increase the rate of interest, each the Eurodollar Advance Advances shall bear interest at the Eurodollar Rate in effect from time to time-to-time plus the Applicable Margin plus 2%. The Borrower shall pay to the Administrative Agent for the ratable benefit of each Lender Bank all accrued but unpaid interest on each of such Lender’s Bank's Eurodollar Advances on the last day of the Interest Period therefor (provided that for Eurodollar Advances with six month Interest Periods, accrued but unpaid interest shall also be due on the day three months from the first day of such Interest Period), on the date any Eurodollar Advance is repaid in full, and on the Revolving Credit Maturity Date and the Term Maturity Date; provided that if an Event of Default is continuing, interest shall be payable on demand.

Appears in 1 contract

Samples: Credit Agreement (Maxxim Medical Inc)

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Eurodollar Advances. Each Eurodollar Advance shall bear interest during its Interest Period equal to at all times the Eurodollar Rate for such Interest Period plus the Applicable Margin for Eurodollar Advances for such period; provided that while an Event of Default is continuing, each Eurodollar Advance shall bear interest at the Eurodollar Rate in effect from time to time plus the Applicable Margin plus 2%. The Borrower shall pay to the Administrative Agent for the ratable benefit account of each Lender all accrued but unpaid interest on each of such Lender’s 's Eurodollar Advances on the last day of the Interest Period therefor (provided that for Eurodollar Advances with six month Interest Periods, accrued but unpaid interest shall also be due on the day three months from the first day of such Interest Period), on the date any Eurodollar Advance is repaid in fullrepaid, and on the Revolving Maturity Date or the Term Maturity Date; provided that if an Event of Default is continuing, interest shall be payable on demandas applicable.

Appears in 1 contract

Samples: Credit Agreement (Boots & Coots International Well Control Inc)

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