US Airways 2004 Annual Report Download - page 196

(b) Payment. All payments of principal, interest, and other amounts
to be made by Borrower under this Agreement and the other Loan Documents
shall be made to Administrative Agent at its principal office in Dallas,
Texas in Dollars and in funds which are or will be available for immediate
use by Administrative Agent by 2:00 p.m. central time on the day due,
without setoff, deduction, or counterclaim. Payments made after 2:00 p.m.
central time shall be deemed made on the Business Day next following.
Administrative Agent shall pay to each Lender any payment of principal,
interest, or other amount to which such Lender is entitled hereunder on
the same day Administrative Agent shall have received the same from
Borrower; provided such payment is received by Administrative Agent prior
to 2:00 p.m. central time, and otherwise before 2:00 p.m. central time on
the Business Day next following.
(c) Payment Assumed. Unless Administrative Agent has received notice
from Borrower prior to the date on which any payment is due under this
Agreement that Borrower will not make that payment in full, Administrative
Agent may assume that Borrower has made the full payment due and
Administrative Agent may, in reliance upon that assumption, cause to be
distributed to the appropriate Lender on that date the amount then due to
such Lenders. If and to the extent Borrower does not make the full payment
due to Administrative Agent, each Lender shall repay to Administrative
Agent on demand the amount distributed to that Lender by Administrative
Agent together with interest for each day from the date that Lender
received payment from Administrative Agent until the date that Lender
repays Administrative Agent (unless such repayment is made on the same day
as such distribution), at an annual interest rate equal to the Federal
Funds Rate.
3.2 PAYMENTS OF INTEREST AND PRINCIPAL PRIOR TO TERMINATION DATE.
(a) Interest Payments. Interest shall accrue on the Outstanding Note
Balance at the applicable rate set forth in SECTION 3.4, below. Accrued
interest on each Eurodollar Rate Borrowing and each Base Rate Borrowing is
due and payable quarterly in arrears on March 31, June 30, September 30
and December 31 of each year, commencing March 31, 2005, and ending on the
Termination Date.
(b) Principal Payments. Borrower shall make the following payments
to Administrative Agent: (i) on each of the first and second Anniversary
Dates, an amount equal to $1,529,500 and (ii) on the Termination Date, the
Outstanding Note Balance.
3.3 PREPAYMENTS.
(a) Optional Prepayments.
(i) After giving Administrative Agent advance written notice
of its intent to prepay, Borrower may voluntarily prepay the Loan
only as follows: (i) on each of the third and fourth Anniversary
Dates, the amount that is equal to $1,529,500 and (ii) from time to
time and at any time, the Outstanding Note Balance on all
outstanding Senior Secured Discount Notes; provided that: (A) such
notice must be received by Administrative Agent by 12:00 p.m.
central time, three Business Days preceding the date of prepayment,
and (B) concurrently with the delivery of such notice, Borrower
shall deliver to Administrative Agent evidence satisfactory to
Administrative Agent that such prepayment is permitted by the terms
of this Agreement. Conversions under SECTION 3.11 are not
prepayments. Each notice of prepayment shall specify the prepayment
date and the amount to be prepaid and shall constitute a binding
obligation of Borrower to make a prepayment on the date stated
therein, together with (unless such prepayment is made
Senior Secured Term Loan
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