US Airways 2004 Annual Report Download - page 197

with respect to a Base Rate Borrowing) accrued and unpaid interest
to the date of such payment on the aggregate principal amount
prepaid.
(ii) Application of Voluntary Prepayment. If no Default or
Potential Default then exists or arises as a result therefrom, any
voluntary prepayments of the Obligation shall be allocated Pro Rata
to each Lender.
(b) Prepayments; Interest/Consequential Loss. All prepayments under
this SECTION 3.3 shall be made, together with accrued interest to the date
of such prepayment on the principal amount prepaid, together with any
Consequential Loss arising as a result thereof.
3.4 INTEREST OPTIONS. Except as set forth in SECTIONS 4.2(A) and 4.3
herein, the Outstanding Note Balance shall bear interest at the Applicable
Eurodollar Rate, as adjusted every ninety (90) days, provided however, that the
Applicable Base Rate shall apply when a Default exists. Each change in the Base
Rate, subject to the terms of this Agreement, will become effective, without
notice to Borrower or any other person, upon the effective date of such change.
3.5 DEFAULT RATE. At the option of Required Lenders and to the extent
permitted by Law, all past-due principal payments and past due interest accruing
on any of the Obligation shall bear interest from maturity (stated or by
acceleration) or the date due, as applicable, at the Default Rate until paid;
provided that, the Default Rate shall automatically apply in the case of SECTION
11.4 where the Default Rate is specified.
3.6 INTEREST RECAPTURE. If the designated rate applicable to the
Outstanding Note Balance exceeds the Maximum Rate, the rate of interest on such
Outstanding Note Balance shall be limited to the Maximum Rate, but any
subsequent reductions in such designated rate shall not reduce the rate of
interest thereon below the Maximum Rate until the total amount of interest
accrued thereon equals the amount of interest which would have accrued thereon
if such designated rate had at all times been in effect. In the event that at
maturity (stated or by acceleration), or at final payment of the Aggregate
Senior Secured Discount Note Stated Amount , the total amount of interest paid
or accrued is less than the amount of interest which would have accrued if such
designated rates had at all times been in effect, then, at such time and to the
extent permitted by Law, Borrower shall pay an amount equal to the difference
between (a) the lesser of the amount of interest which would have accrued if
such designated rates had at all times been in effect and the amount of interest
which would have accrued if the Maximum Rate had at all times been in effect,
and (b) the amount of interest actually paid or accrued on the Aggregate Senior
Secured Discount Note Stated Amount .
3.7 INTEREST CALCULATIONS. Interest will be calculated on the basis of
actual number of days (including the first day but excluding the last day)
elapsed but computed as if each calendar year consisted of 360 days (unless the
calculation would result in an interest rate greater than the Maximum Rate, in
which event interest will be calculated on the basis of a year of 365 or 366
days, as the case may be). All interest rate determinations and calculations by
Administrative Agent are conclusive and binding absent manifest error.
3.8 MAXIMUM RATE. Regardless of any provision contained in any Loan
Document, neither Administrative Agent nor any Lender shall ever be entitled to
contract for, charge, take, reserve, receive, or apply, as interest on all or
any part of the Obligation, any amount in excess of the Maximum Rate, and, if
Lenders ever do so, then such excess shall be deemed a partial prepayment of
principal and treated hereunder as such and any remaining excess shall be
refunded to Borrower. In determining if the interest paid or payable exceeds the
Maximum Rate, Borrower and Lenders shall, to the maximum extent permitted under
applicable Law, (a) treat all Borrowings as but a single extension of credit
(and Lenders
Senior Secured Term Loan
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