Best Buy 2003 Annual Report Download - page 69
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1.8.1 bankruptcy, insolvency and other laws affecting the rights of creditors generally; and
1.8.2 the discretionary nature of equitable remedies;
1.9. Neither the execution and delivery of the Offer Letter or any of the Loan
Documents or any other document contemplated thereby by the Borrower or the
Guarantors which is or will be a party thereto, nor the observance or performance of
the obligations arising thereunder in accordance therewith does or will:
1.9.1 violate or conflict with the organization documents of the Borrower or the Guarantors or with
any agreements to which the Borrower or either of the Guarantors is a party thereto;
1.9.2 conflict with or violate any Legal Requirement applicable to the Borrower or the Guarantors or
their businesses; or
1.9.3 result in any breach of, or constitute a default (or event which with the giving of notice or lapse
of time, or both, would become a default) under, or give to others any rights of termination, acceleration
or cancellation of any agreements to which the Borrower or either of the Guarantors is a party, or result
in the creation of any Lien on any of the Property.
2. Interest, Fees and Payment:
2.1. Interest on the daily balance of principal advanced under the Loans and
remaining unpaid from time to time shall be payable by the Borrower as set out in the
Offer Letter both before and after demand, default and judgment;
2.2. In the case of interest based on the Bank’s Prime Rate and the Bank’s U.S. Base
Rate, interest shall be compounded and payable on the last day of each month;
2.3. If the Borrower repays any portion of the Loans made available by way of a
Bankers’ Acceptance on a date other than the maturity date for such Banker’s
Acceptance, whether as a result of a demand for repayment by the Bank or otherwise, it
shall also concurrently pay to the Bank the applicable Compensating Amount;