Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 5 contracts
Sources: Credit Agreement (Office Depot Inc), Credit Agreement (Office Depot Inc), Credit Agreement (Office Depot Inc)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans (or, in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is due; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 5 contracts
Sources: Credit Agreement (Papa Johns International Inc), Credit Agreement (Papa Johns International Inc), Credit Agreement (Papa Johns International Inc)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement by the US Issuing Bank, at the rate per annum then applicable to Canadian Prime Loans, in respect the case of a US Letter of Credit denominated in dollars, an LC Disbursement by the Canadian Issuing Bank and at the rate per annum then applicable to Overnight LIBO Eurodollar Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsby the UK Issuing Bank; provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(g) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 5 contracts
Sources: Credit Agreement (Cott Corp /Cn/), Credit Agreement (Cott Corp /Cn/), Credit Agreement (Cott Corp /Cn/)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, (i) in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an any LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or US Dollars, the rate per annum then applicable to ABR Loans, (ii) in the case of any LC Disbursement in respect of a European Letter of Credit denominated in dollarsCanadian Dollars, the rate per annum then applicable to Canadian Base Rate Loans, (iii) in the case of any LC Disbursement in respect of a Letter of Credit denominated in Sterling, the Bank of England Base Rate plus the Applicable Rate then applicable to Eurocurrency Loans and (iv) in the case of any LC Disbursement in respect of a Letter of Credit denominated in Euro, the European Central Bank Base Rate plus the Applicable Rate then applicable to Eurocurrency Loans; provided that, if at all times after the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such an Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 5 contracts
Sources: Credit Agreement (Molson Coors Brewing Co), Credit Agreement (Molson Coors Brewing Co), Credit Agreement (Molson Coors Brewing Co)
Interim Interest. If any Issuing Bank shall make makes any LC Disbursement, then, unless a the Revolver Borrower shall reimburse reimburses such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Revolver Borrower reimburses such LC Disbursement, at the rate per annum then applicable to Revolving Loans that are ABR Revolving Loans, Loans (or in the case of an such LC Disbursement required to be reimbursed is in respect of a US Letter of Credit denominated in dollarsan Alternative Currency, and at the rate per annum Overnight Foreign Currency Rate for such Alternative Currency plus the then effective Applicable Rate with respect to ABR Revolving Loans of the applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsClass); provided that, that if the Borrowers fail Revolver Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.05, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section 2.05 to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such paymentpayment and shall be payable on the date on which the Revolver Borrower is required to reimburse the applicable LC Disbursement in full (and, thereafter, on demand).
Appears in 4 contracts
Sources: Credit Agreement (Indivior PLC), Credit Agreement (Indivior PLC), Credit Agreement (Indivior PLC)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 4 contracts
Sources: Credit Agreement (Tredegar Corp), Credit Agreement (Intuit Inc), Credit Agreement (Thomas & Betts Corp)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Applicable Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Margin with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankBanks, except that interest accrued on and after the date of payment by any Applicable Lender pursuant to paragraph (e) of this Section 2.06 to reimburse such the Issuing Bank Banks shall be for the account of such Applicable Lender to the extent of such payment.
Appears in 4 contracts
Sources: Credit Agreement (Horizon Therapeutics Public LTD Co), Credit Agreement (Horizon Therapeutics Public LTD Co), Credit Agreement (Horizon Therapeutics Public LTD Co)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Company reimburses such LC Disbursement, (i) if such LC Disbursement is made in US Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in an Alternative Currency pursuant to paragraph (e) above, at the rate per annum then applicable to ABR US Tranche Revolving Loans, in the case of an and (ii) if such LC Disbursement is made in respect of an Alternative Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) above, at a US Letter of Credit denominated in dollars, and at rate equal to the rate per annum then reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Rate applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsEurocurrency Revolving Loans at such time; provided that, if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.14(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 4 contracts
Sources: Credit Agreement (Yrc Worldwide Inc), Credit Agreement (Yrc Worldwide Inc), Credit Agreement (Yrc Worldwide Inc)
Interim Interest. If any Issuing Bank shall make makes any LC Disbursement, then, unless a the Borrower shall reimburse reimburses such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC DisbursementDisbursement (or the date on which such LC Disbursement is reimbursed with the proceeds of Loans, as applicable), at the rate per annum then applicable to 2024 Refinancing Revolving Loans that are ABR Revolving LoansLoans (or, to the extent of the participation in the case of an such LC Disbursement in respect by any Revolving Lender of a US Letter of Credit denominated in dollarsanother Class, and at the rate per annum then applicable to Overnight LIBO Loans, in the case Revolving Loans of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarssuch other Class); provided that, that if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such paymentpayment and shall be payable on the date on which the Borrower is required to reimburse the applicable LC Disbursement in full (and, thereafter, on demand).
Appears in 4 contracts
Sources: Second Amended and Restated First Lien Credit Agreement (Shift4 Payments, Inc.), First Lien Credit Agreement (Shift4 Payments, Inc.), Second Amended and Restated First Lien Credit Agreement (Shift4 Payments, Inc.)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursementthe reimbursement is due and payable, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurodollar Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (Myriad Genetics Inc), Credit Agreement (Myriad Genetics Inc), Credit Agreement (Myriad Genetics Inc)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC DisbursementDisbursement in full, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, that if the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this SectionSection 2.05, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (ef) of this Section 2.05 to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which such Borrower reimburses the applicable LC Disbursement in full.
Appears in 3 contracts
Sources: Credit Agreement (Minerals Technologies Inc), Credit Agreement (Minerals Technologies Inc), Refinancing Facility Agreement (Minerals Technologies Inc)
Interim Interest. If any Issuing Bank the Additional Facility Issuer shall make any LC Additional Facility Disbursement, then, unless a the Borrower shall reimburse such LC Additional Facility Disbursement in full on the date such LC Additional Facility Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Additional Facility Disbursement is made to but excluding the date that a the Borrower reimburses such LC Additional Facility Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans or, in the case of an LC if such Additional Facility Disbursement in respect of a US Letter of Credit is not denominated in dollars, and at the a rate per annum then determined by the Additional Facility Issuer (which determination will be conclusive absent manifest error) to represent its cost of funds plus the Applicable Rate used to determine interest applicable to Overnight LIBO Term Benchmark Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Additional Facility Disbursement when due pursuant to paragraph (e) of this SectionSection 4.4, then Section 2.13(d) in lieu of the interest described above, such overdue amount shall apply. Interest accrued bear interest, after as well as before judgment, at a rate per annum equal to 2.00% per annum plus the rate applicable to ABR Revolving Loans; provided further that no amounts shall accrue pursuant to this paragraph shall be for Section 4.7 so long as the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such paymentAdditional Facility Issuer is a Defaulting Lender.
Appears in 3 contracts
Sources: Additional Letter of Credit Facility Agreement (Solstice Advanced Materials Inc.), Additional Letter of Credit Facility Agreement (Solstice Advanced Materials Inc.), Additional Letter of Credit Facility Agreement (Solstice Advanced Materials Inc.)
Interim Interest. If the Issuing Lender for any Issuing Bank Letter of Credit shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (eg) of this Section, then Section 2.13(d2.12(d) shall apply; provided further that, in case of any LC Disbursement made under an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall be payable in U.S. Dollars and shall accrue on the Dollar Equivalent thereof calculated using the Exchange Rates on the date such LC Disbursement was made. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing BankLender, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (eg) of this Section to reimburse such Issuing Bank Lender shall be for the account of such Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (Constellation Brands, Inc.), Credit Agreement (Constellation Brands, Inc.), Credit Agreement (Constellation Brands, Inc.)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower or the applicable Subsidiary shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower and/or the applicable Subsidiary reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, (i) in the case of LC Disbursements made in Dollars, and at all times following the conversion to Dollars of an LC Disbursement made in respect of a US Letter of Credit denominated in dollarsan Alternative Currency pursuant to Section 2.04(e) above, and at the rate per annum then applicable to Overnight LIBO Loans, Base Rate Advances and (ii) in the case of LC Disbursements made in an LC Disbursement Alternative Currency, and at all times prior to their conversion to Dollars pursuant to Section 2.04(e) above, at a rate determined in respect of a Letter of Credit denominated customary manner in Euros or Sterling or a European Letter of Credit denominated good faith by the Issuing Bank for short term Advances in dollarssuch Alternative Currency; provided that, if the Borrowers fail a Borrower or any applicable Subsidiary fails to reimburse such LC Disbursement when due pursuant to paragraph (eSection 2.04(e) of this Sectionabove, then Section 2.13(d2.09(b) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (eSection 2.04(e) of this Section above to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (STERIS PLC), Credit Agreement (STERIS PLC), Credit Agreement (Steris Corp)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable relevant Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (Capri Holdings LTD), Credit Agreement (Michael Kors Holdings LTD), Credit Agreement (Michael Kors Holdings LTD)
Interim Interest. If any the applicable Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Borrower reimburses such LC Disbursement, (i) in the case of LC Disbursements made in Dollars, and at all times following the conversion to Dollars of an LC Disbursement made in an Alternative Currency pursuant to clause (e) above, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) in the case of an LC Disbursement Disbursements made in respect of a US Letter of Credit denominated in dollarsAlternative Currency, and at all times prior to their conversion to Dollars pursuant to clause (e) above, at the rate per annum then applicable to Overnight LIBO Loans, Eurocurrency Loans denominated in such Alternative Currency with an Interest Period of one (1) month’s duration determined on the case of an date such LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsis made; provided that, if the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph clause (e) of this SectionSection 2.05, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph clause (e) of this Section 2.05 to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (Coty Inc.), Incremental Assumption Agreement and Refinancing Amendment to Credit Agreement (Coty Inc.), Credit Agreement (Coty Inc.)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC DisbursementDisbursement in full, at the rate per annum then applicable to ABR Revolving Loans, in ; provided that (i) if the case of an Borrower makes such reimbursement on the date such LC Disbursement in respect of a US Letter of Credit denominated in dollarsis made, interest shall accrue for such day if such reimbursement is made after 2:00 p.m., New York City time, on such day and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, (ii) if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.
Appears in 3 contracts
Sources: Revolving Credit Agreement (Marathon Petroleum Corp), Revolving Credit Agreement (Marathon Petroleum Corp), Revolving Credit Agreement (Marathon Petroleum Corp)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursementthe reimbursement is due and payable, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (Arcosa, Inc.), Credit Agreement (Trinity Industries Inc), Credit Agreement (Trinity Industries Inc)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse or refinance such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the a rate per annum (computed in accordance with Section 2.13(e)) equal to the rate then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such paymentpayment (it being agreed that the rate at which such interest shall be deemed to accrue for the account of the Revolving Lenders shall correspond to the rate at which, pursuant to the next preceding sentence, interest accrues on the portion of the applicable unreimbursed LC Disbursement equal to the product of (x) the amount of such LC Disbursement and (y) the sum of the Applicable Aggregate Revolving Percentages of all the Revolving Lenders).
Appears in 3 contracts
Sources: Credit Agreement (Healthsouth Corp), Credit Agreement (Healthsouth Corp), Credit Agreement (Healthsouth Corp)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Alternative Currency Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable relevant Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (Tapestry, Inc.), Credit Agreement (Tapestry, Inc.), Credit Agreement (Tapestry, Inc.)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Parent or the applicable Letter of Credit Applicant shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Parent or the applicable Letter of Credit Applicant reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Advances (or in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement unreimbursed obligations in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter Core Currency other than Dollars, the all-in rate determined by Issuing Bank as its cost of Credit denominated funds in dollarsthe applicable Core Currency plus the Applicable Margin for Core Currency Advances); provided that, if the Borrowers fail Parent or such Letter of Credit Applicant fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.9(e), then Section 2.13(d3.1(e) shall apply. Interest accrued pursuant to this paragraph subsection shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (eSection 2.9(e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (Tiffany & Co), Credit Agreement (Tiffany & Co), Credit Agreement (Tiffany & Co)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Borrowers shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interestinterest payable on demand, for each day from and including the date such LC Disbursement is made paid or disbursed to but excluding the date that the Issuing Bank was reimbursed by the Borrowers therefor at a Borrower reimburses such LC Disbursement, at the rate per annum then applicable equal to the Alternate Base Rate as in effect from time to time plus the Applicable Margin as in effect from time to time for ABR Revolving Loans; provided, in however, to the case of an LC Disbursement in respect extent such amounts are not reimbursed prior to 1:00 p.m., New York City time, on the third Business Day following such payment or disbursement or following the occurrence of a US Letter Default or an Event of Credit denominated in dollarsDefault under Section 8.01(g) or (h), interest shall thereafter accrue on the amounts so paid or disbursed by the Issuing Bank (and until reimbursed by the Borrowers) at the a rate per annum then applicable equal to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall applyDefault Rate. Interest accrued pursuant to this paragraph Section 2.17(h) shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (eSection 2.17(e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (Layne Christensen Co), Credit Agreement (Layne Christensen Co), Credit Agreement (Layne Christensen Co)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Borrower reimburses such LC DisbursementDisbursement in full, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (ef) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.
Appears in 3 contracts
Sources: Credit Agreement (Vishay Intertechnology Inc), Credit Agreement (Vishay Intertechnology Inc), Credit Agreement (Vishay Intertechnology Inc)
Interim Interest. If the Issuing Lender for any Issuing Bank Letter of Credit shall make any LC Disbursement, then, unless a Borrower the Borrowers shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to to, but excluding the date that a Borrower reimburses the Borrowers reimburse such LC Disbursement, at the rate per annum then applicable to ABR Revolving Base Rate Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing BankLender, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank Lender for such LC Disbursement shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrowers reimburse the applicable LC Disbursement in full.
Appears in 3 contracts
Sources: Credit Agreement (Dillard's, Inc.), Credit Agreement (Dillard's, Inc.), Credit Agreement (Dillard's, Inc.)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Borrower reimburses such LC Disbursement, (i) in the case of LC Disbursements made in dollars, and at all times following the conversion to dollars of an LC Disbursement made in an Alternative Currency pursuant to paragraph (e) above, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) in the case of LC Disbursements made in an LC Disbursement in respect of a US Letter of Credit denominated in dollarsAlternative Currency, and at all times prior to their conversion to dollars pursuant to paragraph (e) above, at the rate per annum then applicable to Overnight LIBO LoansCDOR Rate Loans or Eurodollar Rate Loans denominated in an Alternative Currency (other than Canadian Dollars), in as applicable, with an Interest Period of one month’s duration determined on the case of an date such LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsis made; provided that, if the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.05, then Section 2.13(d2.13 (c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section 2.05 to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (Darling Ingredients Inc.), Credit Agreement (Darling Ingredients Inc.), Credit Agreement (Darling Ingredients Inc.)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 3 contracts
Sources: Credit Agreement (PTC Inc.), Exhibit Agreement (PTC Inc.), Credit Agreement (Parametric Technology Corp)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is mademade and notice thereof is provided to the Borrower in accordance with paragraph (e) of this Section, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursementthe reimbursement is due and payable, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Rate for such Agreed Currency plus the then applicable effective Applicable Spread with respect to Overnight LIBO Term Benchmark Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(e) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable relevant Issuing Bank, except that interest accrued on and after the date of payment by any Applicable Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Applicable Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Scotts Miracle-Gro Co), Credit Agreement (Scotts Miracle-Gro Co)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Parent shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Parent reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Parent fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (PTC Inc.), Credit Agreement (PTC Inc.)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(e) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.
Appears in 2 contracts
Sources: Credit Agreement (Hess Corp), Credit Agreement (Hess Corp)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC DisbursementDisbursement in full, at the rate per annum then applicable to ABR Revolving Loans, in ; provided that (i) if the case of an Borrower makes such reimbursement on the date such LC Disbursement in respect of a US Letter of Credit denominated in dollarsis made, interest shall accrue for such day if such reimbursement is made after 2:00 p.m., New York City time, on such day and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, (ii) if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(e) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Marathon Petroleum Corp), Revolving Credit Agreement (MPLX Lp)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Company reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans (or, in the case of an if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Foreign Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Cabot Corp), Credit Agreement (Cabot Corp)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(f) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.
Appears in 2 contracts
Sources: Five Year Credit Agreement (Kellogg Co), Credit Agreement (Kellogg Co)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is mademade or notice of such LC Disbursement is received pursuant to Section 2.06(e), the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made or notice of such LC Disbursement is received pursuant to Section 2.06(e) to but excluding the date that a Borrower reimburses such LC Disbursement, the reimbursement is due and payable at the rate per annum then applicable to ABR Revolving LoansLoans and such interest shall be due and payable on the date when such reimbursement is payable (or, in the case of an if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsan Alternative Currency, and at the rate per annum Overnight Foreign Currency Rate for such Alternative Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Virtusa Corp), Credit Agreement (Virtusa Corp)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, (i) in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an any LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or US Dollars, the rate per annum then applicable to ABR Loans, (ii) in the case of any LC Disbursement in respect of a European Letter of Credit denominated in dollarsCanadian Dollars, the rate per annum then applicable to Canadian Base Rate Loans, (iii) in the case of any LC Disbursement in respect of a Letter of Credit denominated in Sterling, the Bank of England Base Rate plus the Applicable Rate then applicable to S▇▇▇▇ Rate Loans and (iv) in the case of any LC Disbursement in respect of a Letter of Credit denominated in Euro, the European Central Bank Base Rate plus the Applicable Rate then applicable to Eurocurrency Loans; provided that, if at all times after the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such an Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Molson Coors Beverage Co), Credit Agreement (Molson Coors Beverage Co)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursementthe reimbursement is due and payable, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Spread with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable relevant Issuing Bank, except that interest accrued on and after the date of payment by any Applicable Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Applicable Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Scotts Miracle-Gro Co), Credit Agreement (Scotts Miracle-Gro Co)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Borrowers shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the Dollar Amount of the unpaid amount thereof shall bear interestinterest payable on demand, for each day from and including the date such LC Disbursement is made paid or disbursed to but excluding the date that the Issuing Bank was reimbursed by the Borrowers therefor at a Borrower reimburses such LC Disbursement, at the rate per annum then applicable equal to the Alternate Base Rate as in effect from time to time plus the Applicable Margin for ABR Revolving Loans; provided, in however, to the case of an LC Disbursement in respect extent such amounts are not reimbursed prior to 1:00 p.m., New York City time, on the third Business Day following such payment or disbursement or following the occurrence of a US Letter Default or an Event of Credit denominated in dollarsDefault under Section 8.01(g) or (h), interest shall thereafter accrue on the Dollar Amount of the amounts so paid or disbursed by the Issuing Bank (and until reimbursed by the Borrowers) at the a rate per annum then applicable equal to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall applyDefault Rate. Interest accrued pursuant to this paragraph Section 2.18(h) shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (eSection 2.18(e) of this Section to reimburse such the Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (International Seaways, Inc.), Credit Agreement (Overseas Shipholding Group Inc)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(e) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable relevant Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Hillenbrand, Inc.), Credit Agreement (Hillenbrand, Inc.)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the applicable Revolving Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Revolving Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail applicable Revolving Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Signet Jewelers LTD), Credit Agreement (Signet Jewelers LTD)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Applicable Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Margin with respect to Overnight LIBO Eurocurrency Revolving Loans or USD Term SOFR Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsas applicable); provided that, if the Borrowers fail Applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankBanks, except that interest accrued on and after the date of payment by any Applicable Lender pursuant to paragraph (e) of this Section 2.06 to reimburse such the Issuing Bank Banks shall be for the account of such Applicable Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Icon PLC), Credit Agreement (Icon PLC)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Borrowers shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses the Borrowers reimburse such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, in the case of an Loans (or if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum determined by the Administrative Agent in accordance with banking industry rules and conventions on interbank compensation for such Foreign Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is due; provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Orthofix Medical Inc.), Credit Agreement (Orthofix International N V)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Company reimburses such LC DisbursementDisbursement or the date that such LC Disbursement is financed by a Revolving Borrowing or a Swingline Loan, as the case may be, at the rate per annum then applicable to ABR Revolving LoansLoans (or, in the case of an if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Foreign Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurodollar Revolving Loans); provided, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, that if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Haemonetics Corp), Credit Agreement (Haemonetics Corp)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Issuing Bank provides timely notice to the Borrower of such reimbursement obligation as specified by paragraph (e) of this Section and the Borrower fails to reimburse such LC Disbursement when due pursuant to such paragraph (e) of this Section), then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Lexmark International Inc /Ky/), Credit Agreement (Lexmark International Inc /Ky/)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses reimburse such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Term SOFR Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Applicable Lender pursuant to paragraph (e) of this Section 2.06 to reimburse such the Issuing Bank shall be for the account of such Applicable Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Endo, Inc.), Credit Agreement (Endo, Inc.)
Interim Interest. If any Issuing Bank shall make makes any LC Disbursement, then, unless a the relevant Revolving Borrower shall reimburse reimburses such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the relevant Revolving Borrower reimburses such LC DisbursementDisbursement (or the date on which such LC Disbursement is reimbursed with the proceeds of Loans, as applicable), at the rate per annum then applicable to Initial Revolving Loans that are ABR Revolving LoansLoans (or, to the extent of the participation in the case of an such LC Disbursement in respect by any Revolving Lender of a US Letter of Credit denominated in dollarsanother Class, and at the rate per annum then applicable to Overnight LIBO Loans, in the case Revolving Loans of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarssuch other Class); provided that, that if the Borrowers fail relevant Revolving Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.05, then the provisions of Section 2.13(d2.13(f) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section 2.05 to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such paymentpayment and shall be payable on the date on which the relevant Borrower is required to reimburse the applicable LC Disbursement in full (and, thereafter, on demand).
Appears in 2 contracts
Sources: Credit Agreement (Brookfield Property REIT Inc.), Credit Agreement (Brookfield Property REIT Inc.)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable relevant Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Coach Inc), Credit Agreement (Under Armour, Inc.)
Interim Interest. If any Issuing Bank shall make makes any LC Disbursement, then, unless a Borrower shall reimburse reimburses such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC DisbursementDisbursement (or the date on which such LC Disbursement is reimbursed with the proceeds of Loans, as applicable), at (x) in the case of LC Disbursements in Dollars, the rate per annum then applicable to Revolving Loans that are ABR Loans of the same Class and (y) in the case of LC Disbursements in an Alternate Currency, a rate per annum equal to the benchmark rate established for such currency at the time of the amendment pursuant to Section 1.11 plus the Applicable Rate for Adjusted Term SOFR Rate Loans for an Interest Period of 1 month commencing on the date of such LC Disbursement (or, if no such benchmark is established, at the rate per annum then applicable to Revolving Loans that are ABR Revolving Loans, in Loans of the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarssame Class); provided that, that if the Borrowers fail a Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e(e) of this Section, then Section Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e(e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Ryman Hospitality Properties, Inc.), Credit Agreement (Ryman Hospitality Properties, Inc.)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursementthe reimbursement is due and payable, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such an Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Acxiom Holdings, Inc.), Credit Agreement (Acxiom Corp)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Johnson Outdoors Inc), Credit Agreement (Johnson Outdoors Inc)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, (i) in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an any LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or US Dollars, the rate per annum then applicable to ABR Loans, (ii) in the case of any LC Disbursement in respect of a European Letter of Credit denominated in dollarsCanadian Dollars, the rate per annum then applicable to Canadian Base Rate Loans, (iii) in the case of any LC Disbursement in respect of a Letter of Credit denominated in Sterling, the Bank of England Base Rate plus the Applicable Rate then applicable to Eurocurrency Loans and (iv) in the case of any LC Disbursement in respect of a Letter of Credit denominated in Euro, the European Central Bank Base Rate plus the Applicable Rate then applicable to Eurocurrency Loans; provided that, if at all times after the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such an Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Molson Coors Brewing Co), Credit Agreement (Molson Coors Brewing Co)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Company reimburses such LC Disbursement, at (i) in the case of an LC Disbursement denominated in US Dollars, the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) in the case of an LC Disbursement in respect denominated any Designated Foreign Currency, the rate determined by the Issuing Bank to represent its cost of a US Letter of Credit denominated in dollars, and funds plus Applicable Rate at the rate per annum then applicable to Overnight LIBO Loans, time in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarseffect for Eurocurrency Borrowings; provided that, if at all times after the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Company reimburses the applicable LC Disbursement in full.
Appears in 2 contracts
Sources: Credit Agreement (Waters Corp /De/), Credit Agreement (Waters Corp /De/)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, in the case of any LC Disbursement denominated in US Dollars and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans, in the case of an and if such LC Disbursement is made in respect a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a US Letter of Credit denominated in dollars, and at the rate per annum then reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsEurodollar Revolving Loans at such time; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.14(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Huntington Ingalls Industries, Inc.), Credit Agreement (Huntington Ingalls Industries, Inc.)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Borrowers shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses the Borrowers reimburse such LC DisbursementDisbursement or the date that such LC Disbursement is financed by a Revolving Borrowing or a Swingline Loan, as the case may be, at the rate per annum then applicable to ABR Revolving LoansLoans (or, in the case of an if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Foreign Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurodollar Revolving Loans); provided, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, that if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Altra Industrial Motion Corp.), Credit Agreement (Altra Holdings, Inc.)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Borrowers shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Borrowers reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Applicable Lender pursuant to paragraph (e) of this Section 2.06 to reimburse such the Issuing Bank shall be for the account of such Applicable Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Endo International PLC), Credit Agreement (Endo International PLC)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans (or, in the case of an if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at (x) the rate per annum Overnight Foreign Currency Rate for such Foreign Currency plus the then applicable effective Applicable Rate with respect to Eurocurrency Revolving Loans or, if applicable, the Overnight LIBO Foreign Currency Rate for such Australian Dollars plus the then effective Applicable Rate with respect to Australian Dollar Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Progress Software Corp /Ma), Credit Agreement (Progress Software Corp /Ma)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans, in the case of an and (ii) if such LC Disbursement is made in respect a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a US Letter of Credit denominated in dollars, and at the rate per annum then reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsEurodollar Revolving Loans at such time; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Northrop Grumman Corp /De/), Credit Agreement (Northrop Grumman Corp /De/)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Company reimburses such LC Disbursement, (i) in the case of a LC Disbursement with respect to a Dollar Letter of Credit, at the rate per annum then applicable to ABR Revolving Loans, Base Rate Loans and (ii) in the case of an a LC Disbursement in with respect of to a US Foreign Currency Letter of Credit denominated in dollarsCredit, and at the rate per annum then applicable to Overnight LIBO Loans, Foreign Currency Loans in the case applicable Foreign Currency with an Interest Period of an one month (with the first such Interest Period beginning on the date such LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarswas made); provided that, in each case (i) and (ii), if the Borrowers fail Company fails to reimburse such LC Disbursement when on the Business Day after such reimbursement is due pursuant to paragraph (e) and (f) of this Section, then Section 2.13(d2.06(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (eg) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (SAIC, Inc.), Credit Agreement (Science Applications International Corp)
Interim Interest. If any an Issuing Bank Lender shall make any LC Disbursement, then, unless a the Company or the relevant Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Company or the relevant Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Credit Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Foreign Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, that if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.13(d2.12(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the applicable Issuing Bank Lender shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Cambrex Corp), Credit Agreement (Cambrex Corp)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency (other than Canadian Dollars), and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such an Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (G&k Services Inc), Credit Agreement (G&k Services Inc)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC DisbursementDisbursement in full, (i) in the case of any LC Disbursement denominated in Dollars, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) in the case of an any LC Disbursement in respect of a US Letter of Credit denominated in dollarsEuro or Sterling, and at the rate per annum then applicable to Overnight LIBO LoansEuro Reference Rate or the Sterling Reference Rate, respectively, plus, in each case, the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsApplicable Rate for determining the interest rate on Eurocurrency Loans; provided that, that if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (ef) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.
Appears in 2 contracts
Sources: Credit Agreement (Blackstone Group L.P.), Credit Agreement (Blackstone Group L.P.)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Applicable Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Margin with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankBanks, except that interest accrued on and after the date of payment by any Applicable Lender pursuant to paragraph (e) of this Section 2.06 to reimburse such the Issuing Bank Banks shall be for the account of such Applicable Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (PRA Health Sciences, Inc.), Credit Agreement (Icon PLC)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the relevant Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursementthe reimbursement is due and payable, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable LIBOR Interest Addition with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail a Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then from and after the date such reimbursement is due and payable, Section 2.13(d) shall applyapply to such reimbursement obligation. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company or the applicable Subsidiary shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Company and or the applicable Subsidiary reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency other than Canadian Dollars, and at the rate per annum reasonably determined by the Applicable Administrative Agent to be the cost to it of funding such amount plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Company or any applicable Subsidiary fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Universal Forest Products Inc), Credit Agreement (Universal Forest Products Inc)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower shall reimburse such LC Disbursement in full on the date when such LC Disbursement reimbursement is madedue pursuant to paragraph (e) of this Section, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight LIBO Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail any Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.14(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Applicable Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Applicable Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Lifetime Brands, Inc), Credit Agreement (Lifetime Brands, Inc)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the U.S. Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the U.S. Borrower reimburses such LC Disbursement, at the rate per annum then applicable to (i) if such LC Disbursement is denominated in Dollars, ABR Revolving Loans, and (ii) in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum then applicable reasonably determined by the Applicable Agent to Overnight LIBO Loans, in be the case cost to it of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsfunding such amount; provided that, if the Borrowers fail U.S. Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Miller Herman Inc), Credit Agreement (Miller Herman Inc)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Advisory Board Co), Credit Agreement (Advisory Board Co)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursement, the reimbursement is due and payable at the rate per annum then applicable to ABR Revolving LoansLoans (or, in the case of an if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, at the Overnight Foreign Currency Rate for such Foreign Currency plus the then effective Applicable Rate with respect to Eurocurrency Revolving Loans), and at such interest shall be due and payable on the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Cabot Corp), Credit Agreement (Cabot Corp)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR 2023 Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency 2023 Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable relevant Issuing Bank, except that interest accrued on and after the date of payment by any 2023 Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such 2023 Revolving Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Capri Holdings LTD), Credit Agreement (Capri Holdings LTD)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Credit Loans, in ; provided that (i) if the case of an Borrower makes such reimbursement on the date such LC Disbursement in respect of a US Letter of Credit denominated in dollarsis made, interest shall accrue for such day if such reimbursement is made after 2:00 p.m., New York City time, on such day and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, (ii) if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.
Appears in 2 contracts
Sources: Credit Agreement (MPLX Lp), Credit Agreement (Marathon Petroleum Corp)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower actually reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in dollars and at all times following the conversion to dollars of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans, in the case of an and (ii) if such LC Disbursement is made in respect a Designated Foreign Currency, at all times prior to its conversion to dollars pursuant to paragraph (e) of this Section, at a US Letter of Credit denominated in dollars, and at the rate per annum then reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Overnight LIBO LoansEurodollar Revolving Loans at such time, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of each such Lender to the extent of such payment.
Appears in 2 contracts
Sources: First Lien Credit Agreement (Jda Software Group Inc), Credit Agreement (RedPrairie Holding, Inc.)
Interim Interest. If any Issuing Bank shall make makes any LC Disbursement, then, unless a the Borrower shall reimburse reimburses such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC DisbursementDisbursement (or the date on which such LC Disbursement is reimbursed with the proceeds of Loans, as applicable), at the rate per annum then applicable to Initial Revolving Loans that are ABR Revolving LoansLoans (or, to the extent of the participation in the case of an such LC Disbursement in respect by any Revolving Lender of a US Letter of Credit denominated in dollarsanother Class, and at the rate per annum then applicable to Overnight LIBO Loansthe Revolving Loans of such other Class); provided, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, that if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph clause (e) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph clause (h) shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph clause (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such paymentpayment and shall be payable on the date on which the Borrower is required to reimburse the applicable LC Disbursement in full (and, thereafter, on demand).
Appears in 2 contracts
Sources: Credit Agreement (Cano Health, Inc.), Credit Agreement (Jaws Acquisition Corp.)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Borrowers shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Borrowers reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Applicable Lender pursuant to paragraph (e) of this Section 2.06 to reimburse such the Issuing Bank shall be for the account of such Applicable Lender to the extent of such payment.
Appears in 2 contracts
Sources: Amendment and Restatement Agreement (Endo International PLC), Credit Agreement (Endo International PLC)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC DisbursementDisbursement at (i) in the case of any LC Disbursement denominated in US Dollars, at the rate per annum then applicable to ABR Revolving LoansLoans denominated in US Dollars and made to the Company, (ii) in the case of any LC Disbursement denominated in Canadian Dollars, the rate per annum then applicable to Canadian Prime Rate Revolving Loans and (iii) in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollarsany other currency, and at the a rate per annum then determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to represent its cost of funds plus the Applicable Rate used to determine interest applicable to Overnight LIBO LIBOR or EURIBOR Revolving Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(e) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Global Tranche Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Global Tranche Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Amerisourcebergen Corp), Credit Agreement (Amerisourcebergen Corp)
Interim Interest. If any Issuing Bank shall make makes any LC Disbursement, then, unless a the applicable Borrower shall reimburse reimburses such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a such Borrower reimburses such LC DisbursementDisbursement (or the date on which such LC Disbursement is reimbursed with the proceeds of Loans, as applicable), at the rate per annum then applicable to ABR Revolving Loans, (x) in the case of an LC Disbursement in respect of a US any Letter of Credit denominated in dollarsDollars, Revolving Loans that are ABR Loans and at the rate per annum then applicable to Overnight LIBO Loans, (y) in the case of an LC Disbursement in respect of a any Letter of Credit denominated in Euros or Sterling or a European Letter any Alternate Currency, Revolving Loans that are Eurocurrency Rate Loans, with an Interest Period of Credit denominated in dollarsone month; provided that, that if the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such paymentpayment and shall be payable on the date on which the Borrower reimburses the applicable LC Disbursement in full.
Appears in 2 contracts
Sources: First Lien Credit Agreement (Ranpak Holdings Corp.), First Lien Credit Agreement (Ranpak Holdings Corp.)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Company reimburses such LC DisbursementDisbursement or the date that such LC Disbursement is financed by a Revolving Borrowing or a Swingline Loan, as the case may be, at the rate per annum then applicable to ABR Revolving LoansLoans (or, in the case of an if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Foreign Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurodollar Revolving Loans); provided, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, that if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable relevant Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Haemonetics Corp), Credit Agreement (Haemonetics Corp)
Interim Interest. If the Issuing Lender for any Issuing Bank Letter of Credit shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interestinterest in Dollars, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC DisbursementDisbursement as provided in paragraph (f) of this Section, at the rate per annum then applicable to Syndicated ABR Revolving Loans, Credit Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars); provided that, that if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing BankLender, except that interest accrued on and after the date of payment by any Revolving Credit Lender pursuant to paragraph (ef) of this Section to reimburse such Issuing Bank Lender shall be for the account of such Revolving Credit Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Teleflex Inc), Credit Agreement (Teleflex Inc)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the Lead Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Lead Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or (i) in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsCanadian Dollars, and at the rate per annum then applicable to Overnight LIBO Loans, Revolving Loans that are Canadian Prime Loans or (ii) in the case of an such LC Disbursement in respect of a Letter of Credit is denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsForeign Currency, at the Overnight Foreign Currency Rate for such Agreed Currency plus the then effective Applicable Rate with respect to Eurocurrency Revolving Loans); provided that, if the Borrowers fail Lead Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 2 contracts
Sources: Credit Agreement (Hill-Rom Holdings, Inc.), Credit Agreement
Interim Interest. If the Issuing Lender for any Issuing Bank Letter of Credit shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (eg) of this Section, then Section 2.13(d2.12(d) shall apply; provided further that, in case of any LC Disbursement made under an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall be payable in U.S. Dollars and shall accrue on the U.S. Dollar Equivalent thereof calculated using the Exchange Rates on the date such LC Disbursement was made. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing BankLender, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (eg) of this Section to reimburse such Issuing Bank Lender shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursementthe reimbursement is due and payable, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Analogic Corp)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the Borrower or the applicable LC Subsidiary shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower or the applicable LC Subsidiary reimburses such LC Disbursement, at (i) in the case of any LC Disbursement denominated in Dollars, and at all times following the conversion to Dollars of an LC Disbursement made in an Alternative Currency pursuant to paragraph (e) of this Section, the rate per annum then applicable to ABR Base Rate Revolving Loans, Loans and (ii) in the case of an any LC Disbursement in respect of a US Letter of Credit denominated in dollarsan Alternative Currency, and at the all times prior to its conversion to Dollars pursuant to paragraph (e) of this Section, a rate per annum then reasonably determined by the Issuing Bank (which determination will be conclusive absent manifest error) to represent its cost of funds plus the Applicable Rate used to determine interest applicable to Overnight LIBO Eurocurrency Revolving Loans; provided, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided however, that, if at all times after the Borrowers fail Borrower or the applicable LC Subsidiary fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 1 contract
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursementthe reimbursement is due and payable, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Arcosa, Inc.)
Interim Interest. If Except as otherwise agreed with any Issuing Bank with respect to any Letter of Credit relating to the period beginning on any date an LC Disbursement is made and ending two Business Days after the Borrower's receiving notice from such Issuing Bank of such LC Disbursement, if any Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is mademade (or, if such date is not a Business Day, on or prior to the next Business Day), the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Pacific Sunwear of California Inc)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursement, the reimbursement is due and payable at the rate per annum then applicable to ABR Revolving LoansLoans (or, in the case of an if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Foreign Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection and such LC Disbursement is not funded with Revolving Loan pursuant to such paragraph (e), then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (LogMeIn, Inc.)
Interim Interest. If any an Issuing Bank for any Letter of Credit shall make any LC Disbursement, then, unless a the Borrower shall reimburse or refinance such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the a rate per annum (computed in accordance with Section 2.13(e)) equal to the rate then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph clause (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph clause (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such paymentpayment (it being agreed that the rate at which such interest shall be deemed to accrue for the account of the Revolving Lenders shall correspond to the rate at which, pursuant to the next preceding sentence, interest accrues on the portion of the applicable unreimbursed LC Disbursement equal to the product of (x) the amount of such LC Disbursement and (y) the sum of the Applicable Aggregate Revolving Percentages of all the Revolving Lenders).
Appears in 1 contract
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse or refinance such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the a rate per annum (computed in accordance with Section 2.12(e)) equal to the rate then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such paymentpayment (it being agreed that the rate at which such interest shall be deemed to accrue for the account of the Revolving Lenders shall correspond to the rate at which, pursuant to the next preceding sentence, interest accrues on the portion of the applicable unreimbursed LC Disbursement equal to the product of (x) the amount of such LC Disbursement and (y) the sum of the Applicable Aggregate Revolving Percentages of all the Revolving Lenders).
Appears in 1 contract
Sources: Credit Agreement (Healthsouth Corp)
Interim Interest. If any Issuing Bank shall make makes any LC Disbursement, then, unless a the Borrower shall reimburse reimburses such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC DisbursementDisbursement (or the date on which such LC Disbursement is reimbursed with the proceeds of Loans, as applicable), at the rate per annum then applicable to 2021 Refinancing Revolving Loans that are ABR Revolving LoansLoans (or, to the extent of the participation in the case of an such LC Disbursement in respect by any Revolving Lender of a US Letter of Credit denominated in dollarsanother Class, and at the rate per annum then applicable to Overnight LIBO Loans, in the case Revolving Loans of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarssuch other Class); provided that, that if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such paymentpayment and shall be payable on the date on which the Borrower is required to reimburse the applicable LC Disbursement in full (and, thereafter, on demand).
Appears in 1 contract
Sources: First Lien Credit Agreement (Shift4 Payments, Inc.)
Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Company reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable relevant Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Brown & Brown Inc)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses reimburses
(i) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such LC Disbursementreplacement of the Issuing Bank. At the time any such replacement shall become effective, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) Borrower shall apply. Interest pay all unpaid fees accrued pursuant to this paragraph shall be for the account of the applicable replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term "Issuing Bank" shall be deemed to refer to such successor or to any previous Issuing Bank, except that interest accrued on or to such successor and after all previous Issuing Banks, as the date context shall require. After the replacement of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be for the account required to issue additional Letters of such Lender to the extent of such paymentCredit.
Appears in 1 contract
Sources: Credit Agreement (Oryx Energy Co)
Interim Interest. If any the applicable Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Borrower reimburses such LC Disbursement, (i) in the case of LC Disbursements made in Dollars, and at all times following the conversion to Dollars of an LC Disbursement made in an Alternative Currency pursuant to clause (e) above, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) in the case of an LC Disbursement Disbursements made in respect of a US Letter of Credit denominated in dollarsAlternative Currency, and at all times prior to their conversion to Dollars pursuant to clause (e) above, at the rate per annum then applicable to Overnight LIBO Loans, Eurocurrency Loans denominated in such Alternative Currency with an Interest Period of one (1) month’s duration determined on the case of an date such LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsis made; provided that, if the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph clause (e) of this SectionSection 2.05, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph clause (e) of this Section 2.05 to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Coty Inc.)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower the Company reimburses such LC Disbursement, (i) if such LC Disbursement is made in US Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in an Alternative Currency pursuant to paragraph (e) above, at the rate per annum then applicable to ABR US Tranche Revolving Loans, in the case of an and (ii) if such LC Disbursement is made in respect of an Alternative Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) above, at a US Letter of Credit denominated in dollars, and at rate equal to the rate per annum then reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsEurocurrency Revolving Loans at such time; provided that, if the Borrowers fail Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.14(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Interim Interest. If any Issuing Bank the Lender shall make any LC Disbursement, then, unless a Borrower the Borrowers shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses the Borrowers reimburse such LC Disbursement, at the rate per annum then applicable to ABR CBFR Revolving Loans, in the case of an Loans (or if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsan Alternative Currency, and at the rate per annum determined by the Lender in accordance with banking industry rules and conventions on interbank compensation for such Alternative Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO EurodollarSOFR Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is due; provided that, if the Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (ed) of this Section, then Section 2.13(d2.11(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such paymentLender.
Appears in 1 contract
Sources: Credit Agreement (Harmonic Inc)
Interim Interest. If any Issuing Bank shall make makes any LC Disbursement, then, unless a the Borrower shall reimburse reimburses such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC DisbursementDisbursement (or the date on which such LC Disbursement is reimbursed with the proceeds of Loans, as applicable), at the rate per annum then applicable to Initial Revolving Loans that are ABR Revolving LoansLoans (or, to the extent of the participation in the case of an such LC Disbursement in respect by any Revolving Lender of a US Letter of Credit denominated in dollarsanother Class, and at the rate per annum then applicable to Overnight LIBO Loans, in the case Revolving Loans of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarssuch other Class); provided that, that if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ed) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (ed) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Lender to the extent of such paymentpayment and shall be payable on the date on which the Borrower is required to reimburse the applicable LC Disbursement in full (and, thereafter, on demand).
Appears in 1 contract
Interim Interest. If any an Issuing Bank Lender shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC DisbursementDisbursement (in an amount equal to the LC Disbursement if such LC Disbursement is reimbursed by the Borrower after the date the LC Disbursement is made), at a rate equal to the rate per annum then applicable to ABR Revolving LoansAlternate Base Rate, in effect from time to time, plus the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsBase Rate Applicable Margin; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.6.5, then Section 2.13(dsuch overdue amount shall bear additional interest (after as well as before judgment) shall applyat a rate equal to 2% per annum. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any Revolver Lender pursuant to paragraph (e) of this Section 2.6.5 to reimburse such Issuing Bank Lender shall be for the account of such Revolver Lender to the extent of such payment.
Appears in 1 contract
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a Borrower reimburses such LC Disbursementthe reimbursement is due and payable, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Medivation, Inc.)
Interim Interest. If Except as otherwise agreed with any Issuing Bank with respect to any Letter of Credit relating to the period beginning on any date an LC Disbursement is made and ending two Business Days after the Borrower’s receiving notice from such Issuing Bank of such LC Disbursement, if any Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is mademade (or, if such date is not a Business Day, on or prior to the next Business Day), the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Pacific Sunwear of California Inc)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the Borrower or the UK Borrower, as applicable, shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower or the UK Borrower, as applicable, reimburses such LC Disbursement, (i) if such LC Disbursement is made in Dollars, and at all times following the conversion to Dollars of an LC Disbursement made in Euro or Sterling pursuant to paragraph (e) above, at the rate per annum then applicable to ABR US Tranche Revolving Loans, in the case of an and (ii) if such LC Disbursement is made in respect of Euro or Sterling, at all times prior to its conversion to Dollars pursuant to paragraph (e) above, at a US Letter of Credit denominated in dollars, and at rate equal to the rate per annum then reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsEurocurrency Revolving Loans at such time; provided that, if the Borrowers fail Borrower or the UK Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (MPS Group Inc)
Interim Interest. If any the Issuing Bank Lender shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at (i) with respect to any Unreimbursed Amount denominated in U.S. Dollars, the rate per annum then applicable to ABR Revolving Loans and (ii) with respect to any Unreimbursed Amount denominated in an Alternative Currency, the higher of the rate per annum then applicable to Multicurrency Revolving Credit Loans and the rate per annum then applicable to ABR Revolving Loans, in the case of an LC Disbursement in respect of a US Letter of Credit denominated in dollars, and at the rate per annum then applicable to Overnight LIBO Loans, in the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank Lender shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency (other than Canadian Dollars), and at the rate per annum Overnight Foreign Currency Rate for such Foreign Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Myr Group Inc.)
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the applicable Borrower reimburses such LC Disbursement, (i) in the case of LC Disbursements made in dollars, and at all times following the conversion to dollars of an LC Disbursement made in an Alternative Currency pursuant to paragraph (e) above, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) in the case of LC Disbursements made in an LC Disbursement in respect of a US Letter of Credit denominated in dollarsAlternative Currency, and at all times prior to their conversion to dollars pursuant to paragraph (e) above, at the rate per annum then applicable to Overnight LIBO LoansCDOR Rate Loans or Eurodollar Rate Loans denominated in an Alternative Currency (other than Canadian Dollars), in as applicable, with an Interest Period of one month’s duration determined on the case of an date such LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsis made; provided that, if the Borrowers fail applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.05, then Section 2.13(d2.13 (c) shall apply. Interest accrued pursuant to this CREDIT AGREEMENT, Page 56 paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section 2.05 to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Interim Interest. If any the Issuing Bank shall make any LC Disbursement, then, unless a the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansTerm SOFR Loans having an Interest Period of one month’s duration (or, in the case of an if such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsan Agreed Foreign Currency (other than Pounds Sterling or, and at Swiss Francs or, following a Benchmark Transition Event with respect to Term ▇▇▇▇▇, Canadian Dollars), the rate per annum then applicable to Overnight LIBO Loansa Eurocurrency Loan having an Interest Period of one month’s duration for the applicable Currency or, in the case of an if such LC Disbursement in respect of a Letter of Credit is denominated in Euros or Pounds Sterling or or, Swiss Francs or, following a European Letter of Credit denominated in dollarsBenchmark Transition Event with respect to Term ▇▇▇▇▇, Canadian Dollars, the rate per annum then applicable to RFR Loans for the applicable Currency); provided that, if the Borrowers fail Borrower fails to reimburse such LC Disbursement within two Business Days following the date when due pursuant to paragraph (ef) of this Section, then the provisions 63 29135447.6 of Section 2.13(d2.11(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (ef) of this Section to reimburse such the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Barings Capital Investment Corp)
Interim Interest. If any an Issuing Bank shall make any LC Disbursement, then, unless a Borrower the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that a suchthe Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans, Loans (or in the case of an such LC Disbursement in respect of a US Letter of Credit is denominated in dollarsa Foreign Currency, and at the rate per annum Overnight Foreign Currency Rate for such Agreed Currency plus the then applicable effective Applicable Rate with respect to Overnight LIBO Eurocurrency Revolving Loans, in ) and such interest shall be due and payable on the case of an LC Disbursement in respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollarsdate when such reimbursement is payable; provided that, if the Borrowers fail anythe Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Fuller H B Co)