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Fee otherwise enjoy of one’s increased rates of interest considering for within this

Fee otherwise enjoy of one’s increased rates of interest considering for within this

(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 https://paydayloanscalifornia.org/cities/daly-city/ 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 due to the fact if you don’t established herein, the brand new Financing will accrue notice every single day during the an expense comparable to the item from (A) new outstanding prominent amount thereof as of such as day and you may (B) brand new LIBO Speed for eg period (unless of course a LIBOR Disruption Enjoy keeps occurred which is continuing, in which case such speed is the prime Speed) in addition to Appropriate 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.

Point 9

(c) But as or even established here, appeal on every Financing is payable inside arrears (i) to the in order to for each Attention Commission Go out; (ii) on any prepayment of the Financing towards the total amount accumulated towards the the total amount are prepaid service; and you can (iii) at maturity.

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) Team agrees to pay on the Person entitled to fee hereunder, and additionally yet not restricted to commission to each and every Financial of its Non-Play with Commission, any charges after that owed and you will because of such as for example People from the Companypany agrees to invest one Liquidation Charges payable so you’re able to a loan provider in the experience of an effective prepayment of Loans.

(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.

Part dos

(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.

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