Best Buy 2003 Annual Report Download - page 58
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8.2. all amounts advanced by the Bank as a result of any demand for payment under
any Letter of Credit issued under the Documentary Credit Sub−Facility shall be repaid
forthwith upon demand by the Bank;
8.3. all amounts advanced by the Bank upon the maturity of any Bankers’
Acceptance shall be repaid forthwith upon demand by the Bank;
8.4. any and all liabilities of or losses suffered by the Bank in connection with any
F/X Contract shall be paid to the Bank by the Borrower on demand, provided that
unless and until otherwise demanded, the Borrower shall fulfill all of its obligations
under all F/X Contracts as and when they become due;
8.5. all amounts outstanding under the EFT Limit shall be repaid by no later than the
date on which the Operating Term expires; and
8.6. interest on the Loans shall be payable as hereinafter set out.
9. Interest and Fees:
9.1. Accrued interest on the daily balance of the principal advanced under the Loans
and remaining unpaid from time to time, including, without limitation, all direct
advances and amounts outstanding as a result of unpaid liabilities pursuant to
paragraphs 8.1 through 8.4 inclusive above, shall be payable on the last day of each
month at a rate equal to the Bank’s Prime Rate plus one quarter of one percent (0.25%)
per annum, in the case of monies advanced in Canadian Dollars, and the Bank’s U.S.
Base Rate plus one quarter of one percent (0.25%) per annum, in the case of monies
advanced in U.S. Dollars, calculated monthly from the date of advance, both before and
after demand, default and judgment, until actual payment. By accepting this Offer
Letter, the Borrower acknowledges that the Bank’s Prime Rate was four and one−half
of one percent (4.5%) per annum and that the “Bank’s U.S. Base Rate” was five and
one−quarter of one percent (5.25%) per annum, in each case as at September 10, 2002.
A certificate of a Vice−President or Assistant Vice−President of the Bank shall be,
absent manifest error, conclusive evidence of the Bank’s Prime Rate or the Bank’s U.S.
Base Rate from time to time;
9.2. The Borrower shall pay to the Bank:
9.2.1 at the time of issuance by the Bank of each Letter of Credit under the Documentary Credit
Sub−Facility, the Bank’s prevailing fees in respect thereof which, in any event, shall be not less than
1.25% per annum of the face amount of the Letter of Credit calculated over the term thereof;
5