Common use of Interest Payment and Computation Clause in Contracts

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date and on the Term Loan Maturity Date, and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Date, and if such Interest Period is longer than three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 2 contracts

Samples: Intercreditor Agreement (Beacon Roofing Supply Inc), Intercreditor Agreement (Beacon Roofing Supply Inc)

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Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date and on the Term Loan Maturity Datemonth commencing June 30, 2016; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on thereto; provided that, with respect to each LIBOR Rate Loan outstanding as of the Term Loan Maturity Amendment No. 4 Effective Date, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 2 contracts

Samples: Credit Agreement (Azure Midstream Partners, Lp), Credit Agreement

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date and commencing on the Term Loan Maturity DateDecember 31, 2015; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month interval during such Interest Period; provided, that accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. All computations of interest for Base Rate Loans when the Base Rate is determined by based on the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 2 contracts

Samples: Credit Agreement (Owens Corning), Credit Agreement (Owens Corning)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable accrue in arrears on the last Business Day of each calendar quarter occurring after the Closing Date and shall be due and payable on the Term Loan Maturity Datethird Business Day of the immediately following calendar quarter commencing September 30, 2011; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate and the Commitment Fee shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees (other than the Commitment Fee) and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 2 contracts

Samples: Credit Agreement (Amerigas Partners Lp), Guaranty Agreement (Amerigas Partners Lp)

Interest Payment and Computation. (i) Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date commencing December 31, 2015 and on the Term Loan Maturity Date, ; and (ii) interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month 3)-month interval during such Interest PeriodPeriod and on the Maturity Date. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate prime rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Term Loan Credit Agreement (South Jersey Industries Inc)

Interest Payment and Computation. (i) Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date commencing September 30, 2016 and on the Term Loan Maturity Termination Date, ; and (ii) interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month 3)-month interval during such Interest PeriodPeriod and on the Termination Date. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate prime rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: 364 Day Revolving Credit Agreement (South Jersey Industries Inc)

Interest Payment and Computation. (i) Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date commencing June 30, 2012 and on the Term Loan Maturity Date, ; and (ii) interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month 3)-month interval during such Interest PeriodPeriod and on the Maturity Date. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Term Loan Credit Agreement (South Jersey Industries Inc)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date and Fiscal Quarter commencing on the Term Loan Maturity Datelast Business Day of the Fiscal Quarter ending closest to June 30, 2015; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Boot Barn Holdings, Inc.)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date and on the Term Loan Maturity Datecommencing September 30, and 2012; interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than three (3) extends over 3 months, at the end of each three (3) 3 month interval during such Interest Period; and interest on each Swingline Loan shall be due and payable on the last Business Day of each calendar month. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Macquarie Infrastructure CO LLC)

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Interest Payment and Computation. (i) Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date commencing December 31, 2013 and on the Term Loan Maturity Date, ; and (ii) interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month 3)-month interval during such Interest PeriodPeriod and on the Maturity Date. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Term Loan Credit Agreement (South Jersey Industries Inc)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date and on the Term Loan Maturity Datecommencing March 31, and 2016; interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month interval during such Interest Period; and interest on each Swingline Loan shall be due and payable on the last Business Day of each calendar month. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Macquarie Infrastructure Corp)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Restatement Effective Date and on the Term Loan Maturity Date, and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Date, and if such Interest Period is longer than three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Restatement and Lender Joinder Agreement (Beacon Roofing Supply Inc)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter occurring after the Closing Date and commencing on the Term Loan Maturity DateJune 30, 2010; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month interval during such Interest Period; provided, that accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. All computations of interest for Base Rate Loans when the Base Rate is determined by based on the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Owens Corning)

Interest Payment and Computation. Interest on each Base Rate Loan shall be due and payable accrue in arrears on the last Business Day of each calendar quarter occurring after the Closing Date and shall be due and payable on the Term Loan Maturity Datethird Business Day of the immediately following calendar quarter commencing September 30, 2011; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto and on the Term Loan Maturity Datethereto, and if such Interest Period is longer than extends over three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate and the Commitment Fee shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All LEGAL02/32557961v11 other computations of fees (other than the Commitment Fee) and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

Appears in 1 contract

Samples: Credit Agreement (Amerigas Partners Lp)

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