Common use of Additional Interest on Eurocurrency Rate Advances Clause in Contracts

Additional Interest on Eurocurrency Rate Advances. Each Borrower shall pay to each Lender, during each period as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurocurrency Rate Advance of such Lender outstanding during such period, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the Interest Period applicable to such Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during such period, payable on each date on which interest is payable on such Advance. Such Lender shall determine the amount of such additional interest, if any, and promptly notify the relevant Borrower through the Administrative Agent of the amount thereof.

Appears in 13 contracts

Samples: Five Year Credit Agreement (Stanley Black & Decker, Inc.), Day Credit Agreement (Stanley Black & Decker, Inc.), Credit Agreement (Stanley Works)

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Additional Interest on Eurocurrency Rate Advances. Each The Borrower shall pay to each Lender, during each period so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve Board System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurocurrency Rate Advance of such Lender outstanding during such periodLender, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the applicable Interest Period applicable to for such Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during for such periodInterest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender shall determine and notified in reasonable detail to the amount of such additional interest, if any, and promptly notify the relevant Borrower through the Administrative Agent of the amount thereofAgent.

Appears in 5 contracts

Samples: Year Credit Agreement (Walt Disney Co/), Credit Agreement (Walt Disney Co/), Credit Agreement (Walt Disney Co/)

Additional Interest on Eurocurrency Rate Advances. Each The Borrower shall pay to each Lender, during each period so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve Board System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurocurrency Rate Advance of such Lender outstanding during such periodLender, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the applicable Interest Period applicable to for such Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during for such periodInterest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender shall determine and notified in reasonable detail to the amount of such additional interest, if any, and promptly notify the relevant Borrower through the Administrative Agent of the amount thereofDesignated Agent.

Appears in 4 contracts

Samples: Credit Agreement (Walt Disney Co/), 364 Day Credit Agreement (Walt Disney Co/), Credit Agreement (Walt Disney Co/)

Additional Interest on Eurocurrency Rate Advances. Each The Borrower or Borrowing Subsidiary, as the case may be, shall pay to each Lender, during each period so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve Board System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurocurrency Rate Advance of such Lender outstanding during such periodto the Borrower or Borrowing Subsidiary, as the case may be, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the Interest Period applicable to for such Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during for such periodInterest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender and the Borrower or Borrowing Subsidiary, as the case may be, shall determine the amount be notified of such additional interest, if any, and promptly notify the relevant Borrower through the Administrative Agent of the amount thereof.

Appears in 3 contracts

Samples: Day Credit Agreement (Colgate Palmolive Co), Day Credit Agreement (Colgate Palmolive Co), Five Year Credit Agreement (Colgate Palmolive Co)

Additional Interest on Eurocurrency Rate Advances. Each The Borrower shall pay to each Lender, during each period so long as any such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each the Eurocurrency Rate Advance Advances of such Lender outstanding during such periodLender, from the later of the effective date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the Interest Period applicable to for such Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during for such periodEurocurrency Rate Advances for such Interest Period, payable on each date on which interest is payable on such Advance. Such additional interest payable to any Lender shall determine be determined by such Lender and notified to the amount Borrower through the Administrative Agent (such notice to include the calculation of such additional interest, if anywhich calculation shall be conclusive absent manifest error, and promptly notify be accompanied by any evidence indicating the relevant need for such additional interest as the Borrower through the Administrative Agent of the amount thereofmay reasonably request).

Appears in 1 contract

Samples: Credit Agreement (Willbros Group Inc)

Additional Interest on Eurocurrency Rate Advances. Each Borrower shall pay to each Lender, during each period as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal 364-DAY CREDIT AGREEMENT amount of each Eurocurrency Rate Advance of such Lender outstanding during such period, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the Interest Period applicable to such Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during such period, payable on each date on which interest is payable on such Advance. Such Lender shall determine the amount of such additional interest, if any, and promptly notify the relevant Borrower through the Administrative Agent of the amount thereof.

Appears in 1 contract

Samples: Day Credit Agreement (Stanley Black & Decker, Inc.)

Additional Interest on Eurocurrency Rate Advances. Each Borrower shall pay to each Lender, during each period as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurocurrency Rate Advance of such Lender outstanding during such period, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the Interest Period applicable to such Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during such period, payable on each date on which interest is payable on such Advance. Such Lender shall determine the amount of such additional interest, if any, and promptly notify the relevant Borrower through the Administrative Agent of the amount thereof.. AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT

Appears in 1 contract

Samples: Five Year Credit Agreement (Stanley Black & Decker, Inc.)

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Additional Interest on Eurocurrency Rate Advances. Each The ------------------------------------------------- Borrower shall pay to each Lender, during each period so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve Board System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurocurrency Rate Advance of such Lender outstanding during such periodLender, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the applicable Interest Period applicable to for such Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during for such periodInterest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender shall determine and notified in reasonable detail to the amount of such additional interest, if any, and promptly notify the relevant Borrower through the Administrative Agent of the amount thereofAgent.

Appears in 1 contract

Samples: Credit Agreement (Walt Disney Co/)

Additional Interest on Eurocurrency Rate Advances. Each Borrower (a) The Company shall pay to each LenderBank, during each period so long as such Lender Bank shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurocurrency Rate Advance of such Lender outstanding Bank during such periodperiods as such Advance is a Eurocurrency Rate Advance, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the Interest Period applicable to then in effect for such Eurocurrency Rate Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during Bank for such periodInterest Period, payable on each date on which interest is payable on such Eurocurrency Rate Advance. Such Lender additional interest shall determine be determined by such Bank and notified to the amount of such additional interest, if any, and promptly notify the relevant Borrower Company through the Administrative Agent of the amount thereofAgent.

Appears in 1 contract

Samples: Halliburton Co

Additional Interest on Eurocurrency Rate Advances. Each Borrower shall pay to each Lender, during each period as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurocurrency Rate Advance of such Lender outstanding during such period, CREDIT AGREEMENT from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurocurrency Rate for the Interest Period applicable to such Advance from (ii) the rate obtained by dividing such Eurocurrency Rate by a percentage equal to 100% minus the average Eurocurrency Rate Reserve Percentage of such Lender during such period, payable on each date on which interest is payable on such Advance. Such Lender shall determine the amount of such additional interest, if any, and promptly notify the relevant Borrower through the Administrative Agent of the amount thereof.

Appears in 1 contract

Samples: Credit Agreement (Stanley Works)

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