Interim Interest. If an Issuing Bank shall make any LC Disbursement, then, unless 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 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, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(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 5 contracts
Sources: Credit Agreement (Huntington Ingalls Industries, Inc.), Credit Agreement (Huntington Ingalls Industries, Inc.), Credit Agreement (Huntington Ingalls Industries, Inc.)
Interim Interest. If an any Issuing Bank shall make any LC Disbursement, then, unless the 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 the a 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, and (ii) if such in the case of an LC Disbursement is made in a Designated Foreign Currencyby the US Issuing Bank, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined then applicable to Canadian Prime Loans, in the case of an LC Disbursement by the applicable Canadian Issuing Bank to represent and at the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin rate per annum then applicable to Eurodollar Revolving Loans at such timeLoans, in the case of an LC Disbursement by the UK Issuing Bank; provided that, if the Borrower fails Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless the 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 the a 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, and (ii) if such in the case of an LC Disbursement is made in respect of a Designated Foreign CurrencyUS Letter of Credit denominated in dollars, and at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by then applicable to Overnight LIBO Loans, in the applicable Issuing Bank to represent the cost to such Issuing Bank case of funding such an LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such timein respect of a Letter of Credit denominated in Euros or Sterling or a European Letter of Credit denominated in dollars; provided that, if the Borrower fails Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the applicable Borrower reimburses such LC Disbursement, at (i) in the case of any LC Disbursement in respect of a Letter of Credit 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 SectionDollars, at the rate per annum then applicable to ABR Revolving Loans, and (ii) if such in the case of any LC Disbursement is made in respect of a Designated Foreign CurrencyLetter of Credit denominated in Canadian 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, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by after the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.12(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 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 LoansLoans (or, and (ii) if in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is due; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make makes any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, Disbursement (i) in or the case of any date on which such LC Disbursement denominated in US Dollars and at all times following is reimbursed with the conversion to US Dollars proceeds of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this SectionLoans, as applicable), at the rate per annum then applicable to 2024 Refinancing Revolving Loans that are ABR Revolving LoansLoans (or, and (ii) if to the extent of the participation in such LC Disbursement is made in a Designated Foreign Currencyby any Revolving Lender of another Class, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin then applicable to Eurodollar the Revolving Loans at of such timeother Class); provided that, that if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Applicable 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make makes any LC Disbursement, then, unless 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 the Revolver 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 Revolving Loans that are ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement required to be reimbursed is made in a Designated Foreign an Alternative Currency, at all times prior the Overnight Foreign Currency Rate for such Alternative Currency plus the then effective Applicable Rate with respect to its conversion to US Dollars pursuant to paragraph (e) ABR Revolving Loans of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such timeClass); provided that, that if the Revolver Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.05, then Section 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company reimburses such LC Disbursement, (i) in the case of any if such LC Disbursement denominated is made in US Dollars Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign an Alternative Currency pursuant to paragraph (e) of this Sectionabove, at the rate per annum then applicable to ABR US Tranche Revolving Loans, and (ii) if such LC Disbursement is made in a Designated Foreign an Alternative Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Sectionabove, at a rate per annum equal to the rate reasonably determined by the applicable Issuing Bank to represent be the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin Rate applicable to Eurodollar Eurocurrency Revolving Loans at such time; provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.14(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 an the Issuing Bank Lender for any Letter of Credit shall make any LC Disbursement, then, unless the Borrower 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 the Borrower reimburses Borrowers reimburse 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 Base Rate Loans, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.14(c2.13(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 an the Issuing Bank Lender for any Letter of Credit shall make any LC Disbursement, then, unless 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 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, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (eg) of this Section, then Section 2.14(c2.12(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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 Sectionpayable, at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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 Sectionpayable, at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Parent or the applicable Letter of Credit Applicant 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, and Advances (ii) if such LC Disbursement is made or in the case of unreimbursed obligations in respect of a Letter of Credit denominated in a Designated Foreign CurrencyCore Currency other than Dollars, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the all-in rate per annum reasonably determined by Issuing Bank as its cost of funds in the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement Core Currency plus the Applicable Margin applicable to Eurodollar Revolving Loans at such timefor Core Currency Advances); provided that, if the Borrower 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 2.14(c3.1(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) 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 Sectionfull, at the rate per annum then applicable to ABR Revolving Loans; provided that (i) if the Borrower makes such reimbursement on the date such LC Disbursement is 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 (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.12(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 Borrower reimburses such LC Disbursement, (i) in Issuing Bank was reimbursed by 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, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, Borrowers therefor at a rate per annum reasonably determined by equal to the applicable Issuing Bank Alternate Base Rate as in effect from time to represent the cost to such Issuing Bank of funding such LC Disbursement time plus the Applicable Margin applicable as in effect from time to Eurodollar Revolving Loans time for ABR Loans; provided, however, to the 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 Default or an Event of Default 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 such time; provided that, if a rate per annum equal to the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c) 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 an Issuing Bank shall make any LC Disbursement, then, unless 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 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 (computed in accordance with Section 2.13(e)) equal to the rate then applicable to ABR Revolving Loans, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the such Borrower reimburses such LC Disbursement, (i) 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 Sectionfull, at the rate per annum then applicable to ABR Revolving Loans, and (ii) ; provided that if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this SectionSection 2.05, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 the such 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at such timeAlternative Currency Loans); provided that, if the such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 the such 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an the applicable Issuing Bank shall make any LC Disbursement, then, unless 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 the applicable Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated Disbursements made in US Dollars Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign an Alternative Currency pursuant to paragraph clause (e) of this Sectionabove, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) if such in the case of LC Disbursement is Disbursements made in a Designated Foreign Alternative Currency, and at all times prior to its their conversion to US Dollars pursuant to paragraph clause (e) of this Sectionabove, at a the rate per annum reasonably applicable to Eurocurrency Loans denominated in such Alternative Currency with an Interest Period of one (1) month’s duration determined by on the applicable Issuing Bank to represent the cost to such Issuing Bank of funding date such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such timeis made; provided that, if the applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph clause (e) of this SectionSection 2.05, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the applicable Borrower reimburses such LC Disbursement, (i) 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 Sectionfull, at the rate per annum then applicable to ABR Revolving Loans, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.14(c2.12(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 an the Issuing Bank shall make any LC Disbursement, then, unless 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 the applicable Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated Disbursements made in US Dollars dollars, and at all times following the conversion to US Dollars dollars of an LC Disbursement made in a Designated Foreign an Alternative Currency pursuant to paragraph (e) of this Sectionabove, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) if such in the case of LC Disbursement is Disbursements made in a Designated Foreign an Alternative Currency, and at all times prior to its their conversion to US Dollars dollars pursuant to paragraph (e) of this Sectionabove, at a the rate per annum reasonably applicable to CDOR Rate Loans or Eurodollar Rate Loans denominated in an Alternative Currency (other than Canadian Dollars), as applicable, with an Interest Period of one month’s duration determined by on the applicable Issuing Bank to represent the cost to such Issuing Bank of funding date such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such timeis made; provided that, if the applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.05, then Section 2.14(c2.13 (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 an the Issuing Bank shall make any LC Disbursement, then, unless 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 such Borrower and/or the Borrower applicable Subsidiary reimburses such LC Disbursement, at the rate per annum (i) in the case of any LC Disbursement denominated Disbursements made in US Dollars Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign an Alternative Currency pursuant to paragraph (eSection 2.04(e) of this Sectionabove, at the rate per annum then applicable to ABR Revolving Loans, Base Rate Advances and (ii) if such in the case of LC Disbursement is Disbursements made in a Designated Foreign an Alternative Currency, and at all times prior to its their conversion to US Dollars pursuant to paragraph (eSection 2.04(e) of this Sectionabove, at a rate per annum reasonably determined in a customary manner in good faith by the applicable Issuing Bank to represent the cost to for short term Advances in such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such timeAlternative Currency; provided that, if the 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 2.14(c2.09(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 the applicable 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign CurrencyCurrency (other than Canadian Dollars), at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company and or the applicable Subsidiary 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign CurrencyCurrency other than Canadian Dollars, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by the applicable Issuing Bank Applicable Administrative Agent to represent be the cost to such Issuing Bank it of funding such LC Disbursement amount plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at such timeEurocurrency Loans); provided that, if the Borrower Company or any applicable Subsidiary fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.12(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 an the Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses reimburse 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Term SOFR Revolving Loans at such timeLoans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the applicable Borrower reimburses such LC Disbursement, at (i) in the case of any LC Disbursement in respect of a Letter of Credit 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 SectionDollars, at the rate per annum then applicable to ABR Revolving Loans, and (ii) if such in the case of any LC Disbursement is made in respect of a Designated Foreign CurrencyLetter of Credit denominated in Canadian 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, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by after the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Applicable 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable with respect to Eurodollar Eurocurrency Revolving Loans at such timeor USD Term SOFR Revolving Loans, as applicable); provided that, if the Applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 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, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make makes any LC Disbursement, then, unless 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 the relevant Revolving Borrower reimburses such LC Disbursement, Disbursement (i) in or the case of any date on which such LC Disbursement denominated in US Dollars and at all times following is reimbursed with the conversion to US Dollars proceeds of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this SectionLoans, as applicable), at the rate per annum then applicable to Initial Revolving Loans that are ABR Revolving LoansLoans (or, and (ii) if to the extent of the participation in such LC Disbursement is made in a Designated Foreign Currencyby any Revolving Lender of another Class, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin then applicable to Eurodollar the Revolving Loans at of such timeother Class); provided that, that if the 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 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless 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 the U.S. 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 (i) if such LC Disbursement is denominated in Dollars, ABR Revolving Loans, and (ii) if in such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by the applicable Issuing Bank Applicable Agent to represent be the cost to such Issuing Bank it of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such timeamount; provided that, if the U.S. Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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 Sectionpayable, at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 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 Credit Loans; provided that (i) if the Borrower makes such reimbursement on the date such LC Disbursement is 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 (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.12(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company reimburses such LC Disbursement, at (i) in the case of any an 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 SectionDollars, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) if such in the case of an LC Disbursement is made in a denominated any Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by the applicable Issuing Bank to represent its cost of funds plus Applicable Rate at the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such timetime in effect for Eurocurrency Borrowings; provided that, if at all times after the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 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, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower reimburses Borrowers reimburse such LC DisbursementDisbursement or the date that such LC Disbursement is financed by a Revolving Borrowing or a Swingline Loan, (i) in as 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 Sectionmay be, at the rate per annum then applicable to ABR Revolving LoansLoans (or, and (ii) if such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at such timeLoans); provided thatprovided, that if the Borrower fails Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Borrowers 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower fails Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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 Sectionpayable, at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable LIBOR Interest Addition with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the 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 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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, payable at the rate per annum then applicable to ABR Revolving LoansLoans (or, and (ii) if such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans), and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 the such 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 2023 Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency 2023 Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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 Sectionpayable, at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Spread with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company reimburses such LC DisbursementDisbursement or the date that such LC Disbursement is financed by a Revolving Borrowing or a Swingline Loan, (i) in as 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 Sectionmay be, at the rate per annum then applicable to ABR Revolving LoansLoans (or, and (ii) if such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at such timeLoans); provided thatprovided, that if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the such 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, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the such 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, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC DisbursementDisbursement in full, (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 SectionDollars, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) if such in the case of any LC Disbursement is made denominated in a Designated Foreign CurrencyEuro or Sterling, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Sectionthe Euro Reference Rate or the Sterling Reference Rate, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus respectively, plus, in each case, the Applicable Margin applicable to Eurodollar Revolving Loans at such timeRate for determining the interest rate on Eurocurrency Loans; provided that, that if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.14(c2.12(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company 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 LoansLoans (or, and (ii) if such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company reimburses such LC Disbursement, (i) in the case of any a LC Disbursement denominated in US Dollars and at all times following the conversion with respect to US Dollars a Dollar Letter of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this SectionCredit, at the rate per annum then applicable to ABR Revolving Loans, Base Rate Loans and (ii) if in the case of a LC Disbursement with respect to a Foreign Currency Letter of Credit, at the rate per annum then applicable to Foreign Currency Loans in the applicable Foreign Currency with an Interest Period of one month (with the first such Interest Period beginning on the date such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such timewas made); provided that, in each case (i) and (ii), if the Borrower 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 2.14(c2.06(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 an Issuing Bank Lender shall make any LC Disbursement, then, unless 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 the Company or the relevant 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, and Credit Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at such timeEurocurrency Loans); provided that, that if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.14(c2.12(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 an any Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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 Sectionpayable, at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Spread with respect to Eurodollar Term Benchmark Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 the applicable Revolving 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the applicable Revolving Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Applicable 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 the such 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make makes any LC Disbursement, then, unless the 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 the a Borrower reimburses such LC DisbursementDisbursement (or the date on which such LC Disbursement is reimbursed with the proceeds of Loans, as applicable), at (ix) in the case of any 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 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 Sectionor, if no such benchmark is established, at the rate per annum then applicable to ABR Revolving Loans, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such timethat are ABR Loans of the same Class); provided that, that if the a Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e(e) of this Section, then Section 2.14(cSection 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 an the Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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, 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, and (ii) if such LC Disbursement is made denominated in a Designated Foreign an Alternative Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Alternative Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless 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 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior the Overnight Foreign Currency Rate for such Agreed Currency plus the then effective Applicable Rate with respect to its conversion Eurocurrency Revolving Loans); provided that, if the Issuing Bank provides timely notice to US Dollars pursuant to the Borrower of such reimbursement obligation as specified by paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if Section and the Borrower fails to reimburse such LC Disbursement when due pursuant to such paragraph (e) of this Section), then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 the Lead 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, and Loans (iior (i) if in the case such LC Disbursement is made denominated in Canadian Dollars, at the rate per annum then applicable to Revolving Loans that are Canadian Prime Loans or (ii) in the case such LC Disbursement is denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Lead Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 the such 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company reimburses such LC DisbursementDisbursement or the date that such LC Disbursement is financed by a Revolving Borrowing or a Swingline Loan, (i) in as 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 Sectionmay be, at the rate per annum then applicable to ABR Revolving LoansLoans (or, and (ii) if such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at such timeLoans); provided thatprovided, that if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an the Issuing Bank Lender for any Letter of Credit shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) Disbursement as provided 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 (ef) of this Section, at the rate per annum then applicable to Syndicated ABR Revolving Loans, and Credit Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at such timeEurocurrency Loans); provided that, that if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 Borrower reimburses such LC Disbursement, (i) in Issuing Bank was reimbursed by 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, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, Borrowers therefor at a rate per annum reasonably determined by equal to the applicable Issuing Bank Alternate Base Rate as in effect from time to represent the cost to such Issuing Bank of funding such LC Disbursement time plus the Applicable Margin applicable for ABR Revolving Loans; provided, however, to Eurodollar Revolving Loans the 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 Default or an Event of Default 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 such time; provided that, if a rate per annum equal to the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c) 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 an the Issuing Bank shall make any LC Disbursement, then, unless the 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 the a 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight LIBO Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at such timeOvernight LIBO Loans); provided that, if the any Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(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 an the Issuing Bank shall make any LC Disbursement, then, unless 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 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 LoansLoans (or, and (ii) if such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (ex) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at or, if applicable, the Overnight Foreign Currency Rate for such timeAustralian Dollars plus the then effective Applicable Rate with respect to Australian Dollar Revolving Loans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the such Borrower reimburses such LC Disbursement, Disbursement at (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 SectionDollars, at the rate per annum then applicable to ABR Revolving LoansLoans denominated in US Dollars and made to the Company, and (ii) if such in the case of any LC Disbursement is made denominated in a Designated Foreign CurrencyCanadian Dollars, at all times prior the rate per annum then applicable to its conversion to US Dollars pursuant to paragraph Canadian Prime Rate Revolving Loans and (eiii) in the case of this Sectionan LC Disbursement denominated in any other currency, at a rate per annum reasonably determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to represent the its cost to such Issuing Bank of funding such LC Disbursement funds plus the Applicable Margin Rate used to determine interest applicable to Eurodollar LIBOR or EURIBOR Revolving Loans at such timeLoans; provided that, if the such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an any Issuing Bank shall make makes any LC Disbursement, then, unless 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 the such Borrower reimburses such LC Disbursement, Disbursement (i) in or the case of any date on which such LC Disbursement denominated in US Dollars and at all times following is reimbursed with the conversion to US Dollars proceeds of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this SectionLoans, as applicable), at the rate per annum then applicable to (x) in the case of any Letter of Credit denominated in Dollars, Revolving Loans that are ABR Loans and (y) in the case of any Letter of Credit denominated in any Alternate Currency, Revolving Loans that are Eurocurrency Rate Loans, and (ii) with an Interest Period of one month; provided that if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) 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 Sectionfull, at the rate per annum then applicable to ABR Revolving Loans; provided that (i) if the Borrower makes such reimbursement on the date such LC Disbursement is 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 (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.12(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 an any Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Parent 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower Parent fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless 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 the applicable Borrower reimburses such LC Disbursement, at (i) in the case of any LC Disbursement in respect of a Letter of Credit 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 SectionDollars, at the rate per annum then applicable to ABR Revolving Loans, and (ii) if such in the case of any LC Disbursement is made in respect of a Designated Foreign CurrencyLetter of Credit denominated in Canadian 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, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by after the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.12(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 an any Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower actually reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars dollars and at all times following the conversion to US Dollars 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, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; , provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.12(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 an any Issuing Bank shall make makes any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, Disbursement (i) in or the case of any date on which such LC Disbursement denominated in US Dollars and at all times following is reimbursed with the conversion to US Dollars proceeds of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this SectionLoans, as applicable), at the rate per annum then applicable to Initial Revolving Loans that are ABR Revolving LoansLoans (or, and (ii) if to the extent of the participation in such LC Disbursement is made in a Designated Foreign Currencyby any Revolving Lender of another Class, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin then applicable to Eurodollar the Revolving Loans at of such timeother Class); provided thatprovided, that if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph clause (e) of this Section, then Section 2.14(c2.12(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Borrowers 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower fails Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.06, then Section 2.14(c2.13(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 an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower reimburses Borrowers reimburse 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, and Loans (ii) or if such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Administrative Agent in accordance with banking industry rules and conventions on interbank compensation for such Issuing Bank of funding such LC Disbursement Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at Eurocurrency Loans) and such timeinterest shall be due and payable on the date when such reimbursement is due; provided that, if the Borrower fails Borrowers fail to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.12(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 an the Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower or the UK Borrower, as applicable, reimburses such LC Disbursement, (i) in the case of any if such LC Disbursement denominated is made in US Dollars Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign Currency Euro or Sterling pursuant to paragraph (e) of this Sectionabove, at the rate per annum then applicable to ABR US Tranche Revolving Loans, and (ii) if such LC Disbursement is made in a Designated Foreign CurrencyEuro or Sterling, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Sectionabove, at a rate per annum equal to the rate reasonably determined by the applicable Issuing Bank to represent be the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Eurocurrency Revolving Loans at such time; provided that, if the Borrower or the UK Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 an Issuing Bank shall make any LC Disbursement, then, unless the Borrower or the applicable Designated 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 the Borrower or such Designated 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 LoansLoans (or, and (ii) if such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Administrative Agent in accordance with banking industry rules and conventions on interbank compensation for such Issuing Bank of funding such LC Disbursement Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at such timeEurocurrency Rate Loans); provided that, that if the Borrower or such Designated Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.06(b) 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 Tranche 1 Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Tranche 1 Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Ebay Inc)
Interim Interest. If an the Issuing Bank shall make any LC Disbursement, then, unless 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 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currencyan Agreed Currency other than Dollars, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined in good faith by the applicable Issuing Bank to represent the Issuing Bank's cost to such Issuing Bank of funding such LC Disbursement overnight or short-term funds in the applicable Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 (Heidrick & Struggles International Inc)
Interim Interest. If an the Issuing Bank Lender shall make any LC DisbursementLC/Acceptance Disbursement in respect of any Letter of Credit or Acceptance, and if the Borrowers cannot satisfy the conditions to borrowing set forth herein such that payment of the Reimbursement Obligation resulting from such LC/Acceptance Disbursement cannot be made through the automatic funding of a Base Rate Borrowing, then, unless the Borrower Borrowers shall reimburse such LC LC/Acceptance Disbursement in full on the date such LC LC/Acceptance Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC LC/Acceptance Disbursement is made to but excluding the date that the Borrower reimburses Borrowers reimburse such LC LC/Acceptance 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 Base Rate Loans, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails Borrowers fail to reimburse such LC LC/Acceptance Disbursement when due pursuant to paragraph (e) of this Sectionsubsection 2.4(d), then Section 2.14(c) interest calculated at the Post-Default Rate shall applyaccrue on the unpaid amount thereof. 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 the Lender pursuant to paragraph (esubsection 2.4(d) of this Section to reimburse such Issuing Bank shall be for the account of such the Lender to the extent of such the payment.
Appears in 1 contract
Sources: Credit and Security Agreement (Ufp Technologies Inc)
Interim Interest. If an the Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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, payable at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Applicable Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 (Dexcom Inc)
Interim Interest. If an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower Company or the French 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 the Borrower Company or the French Borrower, as applicable, reimburses such LC Disbursement, (i) in the case of any if such LC Disbursement denominated is made in US Dollars Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign an Alternative Currency pursuant to paragraph (e) of this Sectionabove, at the rate per annum then applicable to ABR US Tranche Revolving Loans, and (ii) if such LC Disbursement is made in a Designated Foreign an Alternative Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Sectionabove, at a rate per annum equal to the rate reasonably determined by the applicable Issuing Bank to represent be the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Eurocurrency Revolving Loans at such time; provided that, if the Company or the French Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 (Schulman a Inc)
Interim Interest. If an any Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at such timeLoans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 1 contract
Sources: Credit Agreement (Rogers Corp)
Interim Interest. If an the applicable Issuing Bank shall make any LC Disbursement, then, unless 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 the applicable Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated Disbursements made in US Dollars Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign an Alternative Currency pursuant to paragraph clause (e) of this Sectionabove, at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) if such in the case of LC Disbursement is Disbursements made in a Designated Foreign Alternative Currency, and at all times prior to its their conversion to US Dollars pursuant to paragraph clause (e) of this Sectionabove, at a the rate per annum reasonably applicable to Eurocurrency Loans denominated in such Alternative Currency with an Interest Period of one (1) month’s duration determined by on the applicable Issuing Bank to represent the cost to such Issuing Bank of funding date such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such timeis made; provided that, if the applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph clause (e) of this SectionSection 2.05, then Section 2.14(c2.132.13 (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 USD/Multicurrency Revolving Lender pursuant to paragraph clause (e) of this Section 2.05 to reimburse such Issuing Bank shall be for the account of such USD/Multicurrency Revolving Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Coty Inc.)
Interim Interest. If an any Issuing Bank shall make any LC Disbursement, then, unless 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 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 Syndicated ABR Revolving LoansLoans (or, and (ii) if such LC Disbursement is made denominated in a Designated Foreign CurrencySterling, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a the rate per annum reasonably determined by the then applicable Issuing Bank to represent the cost to such Issuing Bank of funding RFR Loans and, if such LC Disbursement plus is denominated in any Foreign Currency other than Sterling, the Applicable Margin rate per annum then applicable to Eurodollar Revolving Term Benchmark Loans at such timefor the applicable Currency); provided that, if the 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 of Section 2.14(c2.12(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 Revolving Lender to the extent of such payment.
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (North Haven Private Income Fund a LLC)
Interim Interest. If an any Issuing Bank shall make any LC Disbursement, then, unless 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 the such 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the such Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 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
Interim Interest. If an Issuing Bank shall make any LC Disbursement, then, unless the Borrower Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is maderequired to be reimbursed, 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 the Borrower Company 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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
Interim Interest. If an the Issuing Bank for any Letter of Credit shall make any LC Letter of Credit Disbursement, then, unless the Borrower Borrowers shall reimburse such LC Letter of Credit Disbursement in full on the date such LC Letter of Credit Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Letter of Credit Disbursement is made to but excluding the date that the Borrower reimburses Borrowers reimburse such LC Letter of Credit 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, Loans and (ii) if such LC Disbursement interest shall be due and payable on the date when such reimbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such timepayable; provided that, if the Borrower fails Borrowers fail to reimburse such LC Letter of Credit Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c3.13(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 Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank for such Letter of Credit Disbursement shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Abl Credit and Guarantee Agreement (Janus International Group, Inc.)
Interim Interest. If an Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company reimburses such LC Disbursement, at (i) in the case of any an LC Disbursement denominated in US Dollars and at all times following the conversion to US Dollars of an (including any LC Disbursement made in a denominated any Designated Foreign Currency pursuant to that has been converted into an obligation in US Dollars as provided in paragraph (e) of this Section), at the rate per annum then applicable to ABR Revolving Loans, Loans and (ii) if such in the case of an LC Disbursement is made in a denominated any Designated Foreign CurrencyCurrency prior to such conversion into an obligation in US Dollars, the rate determined by the Issuing Bank to represent its cost of funds plus Applicable Rate at the time in effect for Eurocurrency Borrowings; provided that, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by after the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such time; provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 1 contract
Sources: Credit Agreement (Waters Corp /De/)
Interim Interest. If an any Issuing Bank shall make any LC Disbursement, then, unless the Borrower Company shall reimburse such LC Disbursement in full on within one Business Day of the date on which 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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 Sectionpayable, at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 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
Interim Interest. If an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company 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 (or in the case such LC Disbursement is denominated in a Foreign Currency, at the higher of (i) the Overnight Foreign Currency Rate for such Agreed Currency plus the then effective Applicable Margin with respect to Eurocurrency Revolving Loans, and (ii) if all overdraft or similar charges, costs or expenses that are applicable to the payment of such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such timeDisbursement); provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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
Interim Interest. If an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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, payable at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a any Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank (which determination will be conclusive absent manifest error) to represent its cost of funding such LC Disbursement funds plus the Applicable Margin Rate at such time used to determine interest applicable to Eurodollar Revolving Loans at Term Benchmark Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this SectionSection 2.05, then Section 2.14(c2.12(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 2.05 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 (Murphy Oil Corp)
Interim Interest. If an the Issuing Bank shall make any LC Disbursement, then, unless 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 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 LoansLoans (or, and (ii) if such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (ex) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Foreign Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at or, (y) if applicable, the Overnight Foreign Currency Rate for such timeAustralian Dollars plus the then effective Applicable Rate with respect to Australian Dollar Revolving Loans); provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 1 contract
Interim Interest. If an Issuing Bank shall make any LC Disbursement, then, unless 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 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 LoansLoans (or, and in the case of an Alternate Currency Letter of Credit, at (iii) if until the Lenders shall have paid the amounts owed by them in respect of such LC Disbursement is made as provided in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Sectionabove and paragraph (m) below, at a rate per annum of interest reasonably determined by the applicable Issuing Bank to represent be the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin Rate applicable to Eurodollar Revolving Loans and (ii) thereafter, the rate of interest applicable to ABR Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.12(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 applicable Issuing Bank shall be for the account of such Lender to the extent of such payment.
Appears in 1 contract
Sources: Credit Agreement (Macy's, Inc.)
Interim Interest. If an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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 Sectionpayable, at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar EurodollarTerm Benchmark Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(cd) 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
Interim Interest. If an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower Company shall reimburse such LC Disbursement in full on the Business Day immediately following 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 the Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars reimbursement is due 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 Sectionpayable, at the rate per annum then applicable to ABR Revolving Loans, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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
Interim Interest. If an the Issuing Bank shall make any LC Disbursement, then, unless the Borrower Company or the applicable Foreign Borrower, as the case may be, 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 the Borrower Company or the applicable Foreign Borrower, as the case may be, reimburses such LC Disbursement, (i) in the case of any if such LC Disbursement denominated is made in US Dollars U.S. Dollars, and at all times following the conversion to US U.S. Dollars of an LC Disbursement made in a Designated Foreign an Alternative Currency pursuant to paragraph (e) of this Sectionabove, at the rate per annum then applicable to ABR Revolving Loans, and (ii) if such LC Disbursement is made in a Designated Foreign an Alternative Currency, at all times prior to its conversion to US U.S. Dollars pursuant to paragraph (e) of this Sectionabove, at a rate per annum equal to the rate reasonably determined by the applicable Issuing Bank to represent be the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin Rate applicable to Eurodollar Eurocurrency Revolving Loans at such time; provided that, if the Company or the applicable Foreign Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 (Schulman a Inc)
Interim Interest. If an Issuing Bank shall make any LC Disbursement, then, unless 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 the Borrower reimburses such LC Disbursement, (i) 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 Sectionfull, at the rate per annum then applicable to ABR Revolving Loans; provided, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum 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 Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (ef) of this Section, then Section 2.14(c2.13(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 (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 1 contract
Sources: Credit Agreement (Trinet Group Inc)
Interim Interest. If an Issuing Bank shall make any LC Disbursement, then, unless 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 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, and Loans (ii) if or in case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable RateMargin with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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 1 contract
Interim Interest. If an any Issuing Bank shall make any LC Disbursement, then, unless the Borrower 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 the Borrower Company 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, and Loans (ii) if or in the case such LC Disbursement is made denominated in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to Overnight Foreign Currency Rate for such Issuing Bank of funding such LC Disbursement Agreed Currency plus the then effective Applicable Margin applicable Rate with respect to Eurodollar Eurocurrency Revolving Loans at Loans) and such timeinterest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.14(c2.13(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)