Shake Shack 2015 Annual Report Download - page 120

“ Interest Payment Date ”
means (a) with respect to any CBFR Loan, the first Business Day of each calendar month and the Maturity Date and (b)
with respect to any Eurodollar Loan, the last day of the Interest Period and the Maturity Date.
“ Interest Period ”
means with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and ending on the
numerically corresponding day in the calendar month that is one month thereafter; provided
, that (i) if any Interest Period would end on a day other than
a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurodollar Borrowing only, such next
succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day and (ii)
any Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such
Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and, in the case of a Revolving
Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.
“ IRS ” means the United States Internal Revenue Service.
“ Issuing Bank ”
means Chase, in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in
Section 2.04. The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which
case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.
“ Joinder Agreement ” has the meaning assigned to such term in Section 5.12.
“ Law ” means any law, rule, regulations, code, ordinance, order or decree issued or promulgated by any Governmental Authority
“ LC Collateral Account ” has the meaning assigned to such term in Section 2.04(j).
“ LC Disbursement ” means a payment made by the Issuing Bank pursuant to a Letter of Credit.
“ LC Exposure ” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus
(b) the
aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any
Revolving Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time.
“ LC Sublimit ” means $10,000,000.
“ Lender Party ” means the Administrative Agent, each Issuing Bank or any other Lender.
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