(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) Except since the or even set forth herein, the brand new Fund should accrue focus each and every day into the a cost equivalent to this product off (A) the fresh new delinquent prominent number thereof by such as for instance date and you can (B) the newest LIBO Rate to possess such several months (until a good LIBOR Disturbance Feel provides happened that is carried on, in which particular case instance rates will be the top Speed) and also the 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.

Section nine

(c) But because if not established here, focus for each Loan should be payable when you look at the arrears (i) to the and to for each Appeal Payment Big date; (ii) abreast of any prepayment of the Mortgage to the the amount accumulated for the the total amount being prepaid; and you will (iii) during 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 several 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 https://homeloansplus.org/payday-loans-nd/ 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) Organization agrees to invest toward People eligible to commission hereunder, along with not limited by payment to each Bank of their Non-Explore Percentage, people fees after that due and as a result of instance People from the Companypany believes to blow people Liquidation Charge payable to a lender into the contact with a beneficial prepayment off Finance.

(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.

Point 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.