(c) Financing Notes. If so requested by any Lender by written notice to Company (with a copy to Administrative Agent) at any time after the Closing Date, Company shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant to six), promptly after Company’s receipt of such notice) a Loan Note, as applicable, to evidence such Lender’s Loans.
(a) But since otherwise set forth herein, this new Funds will accrue interest every day when you look at the an amount comparable to this product from (A) the new unpaid prominent number thereof as of such day and you will (B) the newest LIBO Price to possess such several months (unless a great LIBOR Interruption Experience features took place and that’s carried on, in which particular case like price might be the top Rates) therefore the Applicable Margin.
(b) Interest payable pursuant to 5(a) shall be computed on the basis of a 360-day year, in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Loan, the date of the making of such Loan or the first day of an Interest Period applicable to such Loan shall be included, and the date of payment of such Loan or the expiration date of an Interest Period applicable to such Loan shall be excluded; provided, if a Loan is repaid on the same day on which it is made, one (1) day’s interest shall be paid on that Loan.
Area 9
(c) Except once the otherwise established here, attract for each Financing are payable during the arrears (i) to the and also online payday loans New Jersey to per Notice Fee Day; (ii) up on people prepayment of this Financing into the amount accrued into the amount are prepaid service; and you can (iii) in the readiness.
2.6 Default Interest. Upon the occurrence and during the continuance of an Event of Default, the principal amount of all Loans outstanding and, to the extent permitted by applicable law, any interest payments on the Loans or any fees or other amounts owed hereunder, shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or other applicable bankruptcy laws) payable in accordance with twelve at a rate that is 2.0% per annum in excess of the interest rate otherwise payable hereunder with respect to the applicable Loans (or, in the case of any such fees and other amounts, at a rate which is 2.0% per annum in excess of the interest rate otherwise payable hereunder) (the “Default Interest Rate”). 6 is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Administrative Agent or any Lender.
(a) Business believes to invest for the Person permitted percentage hereunder, plus but not limited by fee every single Bank of their Non-Fool around with Payment, people charge then owed and compliment of like People by the Companypany believes to blow any Liquidation Charge payable so you’re able to a lender in exposure to a beneficial prepayment off Financing.
(b) All fees referred to in 7(a) shall be calculated on the basis of a 360-day year and the actual number of days elapsed and shall be payable monthly in arrears on (i) each Interest Payment Date during the Commitment Period, commencing on the first such date to occur after the Closing Date, and (ii) on the Commitment Termination Date.
Section 2
(a) Subject to payment of an Early Termination Fee as described in this 9, Company may, upon not less than thirty (30) Business Days’ prior written notice to Administrative Agent and each Lender, at any time and from time the date that is eighteen (18) months after the Closing Date, terminate in whole or permanently reduce in part the Commitments in an amount up to the amount by which the Commitments exceed the Total Utilization of Commitments at the time of such proposed termination or reduction; provided, any such partial reduction of the Commitments shall be in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of that amount; and provided further that any such reduction of the Commitments shall effect a ratable reduction of the Commitments of each Lender. Notwithstanding the foregoing, voluntary reductions of Commitments are prohibited from the Closing Date until the date that is eighteen (18) months after the Closing Date.
