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SEC Filings
8-K
TERRAFORM POWER, INC. filed this Form 8-K on 10/17/2017
Entire Document
 

SECTION 2.8.        Interest on Loans.

(a)           Except as otherwise set forth herein, Loans shall bear interest on the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof as follows:

(i)            in the case of Revolving Loans:

(1)           if a Base Rate Loan, at the Base Rate plus the Applicable Margin;

(2)           if a CPR Loan, at the Canadian Prime Rate plus the Applicable Margin; or

(3)           if a Eurocurrency Rate Loan, at the Adjusted Eurocurrency Rate plus the Applicable Margin; and

(ii)           [reserved].

(b)           The basis for determining the rate of interest with respect to any Loan, and the Interest Period with respect to any Eurocurrency Rate Loan, shall be selected by Borrower and notified to Administrative Agent and Lenders pursuant to the applicable Funding Notice or Conversion/Continuation Notice, as the case may be.

(c)           In connection with Eurocurrency Rate Loans there shall be no more than ten (10) Interest Periods outstanding at any time.  In the event Borrower fails to specify the Type of Loan in the applicable Funding Notice or Conversion/Continuation Notice, such Loan (i) if outstanding as a Eurocurrency Rate Loan and denominated in Dollars, will be automatically converted into a Base Rate Loan on the last day of the then-current Interest Period for such Loan, (ii) if outstanding as a Eurocurrency Rate Loan and denominated in Canadian Dollars, will be automatically converted into a CPR Loan on the last day of the then-current Interest Period for such Loan, (iii) if outstanding as a Eurocurrency Rate Loan and denominated in an Alternative Currency (other than Canadian Dollars), will continue as a Eurocurrency Rate Loan on the last day of the then-current Interest Period for such Loan having an Interest Period of one month, (iv) if outstanding as a Base Rate Loan, will remain as a Base Rate Loan, (v) if outstanding as a CPR Loan, will remain as a CPR Loan or (vi) if not then outstanding, will be made as (A) in the case of a Loan denominated in Dollars, a Base Rate Loan, (B) in the case of a Loan denominated in Canadian Dollars, a CPR Loan and (C) in the case of a Loan denominated in an Alternative Currency (other than Canadian Dollars), a Eurocurrency Rate Loan having an Interest Period of one month.  In the event Borrower fails to specify an Interest Period for any Eurocurrency Rate Loan in the applicable Funding Notice or Conversion/Continuation Notice, Borrower shall be deemed to have selected an Interest Period of one month.  In the event Borrower fails to specify the currency for any Loan in the applicable Funding Notice, Borrower shall be deemed to have selected a Loan denominated in Dollars.  As soon as practicable after 10:00 a.m. (Local Time) on each Interest Rate Determination Date, Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the Eurocurrency Rate Loans for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower and each Lender.
 
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