Common use of Additional Reserve Costs Clause in Contracts

Additional Reserve Costs. (a) If and so long as any Lender is required to make special deposits with the Bank of England, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender's LIBOR Loans in any Committed Foreign Currency, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit J hereto. (b) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Mandatory Costs Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign Currency, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Lender's LIBOR Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant Lender, which determination shall be conclusive absent manifest error, and notified to the relevant Borrower (with a copy to the Administrative Agent) at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the relevant Borrower by such Lender shall be payable to the Administrative Agent for the account of such Lender on each date on which interest is payable for such Loan.

Appears in 2 contracts

Sources: Credit Agreement (Millennium America Inc), Credit Agreement (Millennium Chemicals Inc)

Additional Reserve Costs. (a) If and for so long as any Lender is required to make special deposits with the Bank of England, to maintain reserve asset ratios or to pay fees, in each case in respect of all or any portion of such Lender's LIBOR Loans in any Committed Foreign Local Currency, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest Interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit J F hereto. (b) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Statutory Reserves or the Mandatory Costs Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign Local Currency, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest Interest on each of such Lender's LIBOR Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant applicable Lender, which determination shall be conclusive absent manifest error, and notified to the relevant Borrower (with a copy to the Administrative Agent) at least five Business Days before each date on which interest Interest is payable for the relevant applicable Loan, and such additional interest so notified to the relevant Borrower by such Lender shall be payable to the Administrative related Funding Agent for the account of such Lender on each date on which interest Interest is payable for such Loan.

Appears in 2 contracts

Sources: Receivables Loan Agreement (TRW Automotive Inc), Receivables Loan Agreement (TRW Automotive Inc)

Additional Reserve Costs. (a) If and so long as any Lender is required to make special deposits with the Bank of England, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender's LIBOR Loans (to the extent not reflected in any Committed Foreign CurrencyStatutory Reserves), such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan Loans at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit J C hereto. (b) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Statutory Reserves or the Mandatory Costs Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign CurrencyLoans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Lender's LIBOR Loans subject to such requirements, additional interest on such Loan Loans at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such LoanLoans. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant Lender, which determination shall be conclusive absent manifest error, and notified to the relevant Borrower (with a copy to the Administrative Agent) at least five Business Days before each date on which interest is payable for the relevant LoanLoans, and such additional interest so notified to the relevant Borrower by such Lender shall be payable to the Administrative Agent for the account of such Lender on each date on which interest is payable for such LoanLoans.

Appears in 2 contracts

Sources: Bridge Credit Agreement (Coors Adolph Co), Credit Agreement (Coors Adolph Co)

Additional Reserve Costs. (a) If and for so long as any Lender is required to make special deposits with the Bank of England, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender's LIBOR Loans in any Committed Foreign CurrencyEurocurrency Loans, such Lender may require the relevant applicable Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit J F hereto. (b) If and for so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Mandatory Costs Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign CurrencyEurocurrency Loans, such Lender may require the relevant applicable Borrower to pay, contemporaneously with each payment of interest on each of such Lender's LIBOR Eurocurrency Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant applicable Lender, which determination shall be conclusive absent manifest error, and notified to the relevant applicable Borrower (with a copy to the Administrative Agent) at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the relevant applicable Borrower by such Lender shall be payable to the Administrative Applicable Agent for the account of such Lender on each date on which interest is payable for such Loan.

Appears in 1 contract

Sources: 364 Day Amended and Restated Competitive Advance and Revolving Credit Facility Agreement (Perkinelmer Inc)

Additional Reserve Costs. (a) If and so long as any Lender is required after the date hereof to make special deposits with the Bank of England, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender's LIBOR Loans in any Committed Foreign Currency’s Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit J C hereto. (b) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the Board or by European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Mandatory Costs Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign Currency’s Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Lender's LIBOR ’s Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant Lender, which determination shall be conclusive absent manifest presumed correct in the absence of facts or circumstances indicating that it has been made in error, and notified to the relevant Borrower (with a copy to the Administrative Agent) at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the relevant Borrower by such Lender shall be payable to the Administrative Agent for the account of such Lender on each date on which interest is payable for such Loan.

Appears in 1 contract

Sources: 364 Day Credit Agreement (WABCO Holdings Inc.)

Additional Reserve Costs. (a) If and so long as In the case of any Lender is required to make special deposits with making a Limited Currency Revolving Loan or Multicurrency Revolving Loan from a Lending Office in the Bank of England, to maintain reserve asset ratios United Kingdom or to pay fees, in each case in respect of such Lender's LIBOR Loans in any Committed Foreign Currencya Participating Member State, such Lender may shall be entitled to require the relevant Parent Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Cost Rate calculated in accordance with the formula and in the manner set forth in Exhibit J Schedule 3.08 hereto. (a) [Reserved]. (b) If and For so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or Bank, the European System of Central BanksBanks or the Bank of Canada, but excluding requirements reflected in the Statutory Reserves or the Mandatory Costs Cost Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign Currency’s Eurodollar Rate Loans, such Lender may shall be entitled to require the relevant Parent Borrower to pay, contemporaneously with each payment of interest on each of such Lender's LIBOR ’s Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined in reasonable detail by the relevant applicable Lender, which determination shall be conclusive absent manifest error, and notified to the relevant Parent Borrower (with a copy to the Administrative Agent) at least five Business Days before each date on which interest is payable for the relevant applicable Loan, and such additional interest so notified to the relevant Parent Borrower by such Lender shall be payable to the Administrative Agent for the account of such Lender on each date on which interest is payable for such Loan.

Appears in 1 contract

Sources: Credit Agreement (Live Nation Entertainment, Inc.)

Additional Reserve Costs. (a) If and so long as any Lender is required by the Bank of England or any other monetary or other authority of the United Kingdom to make special deposits with the Bank of Englanddeposits, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender's LIBOR Loans in any Committed Foreign Currency’s LIBO Rate Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit J D hereto. (b) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Statutory Reserve Rate or the Mandatory Costs Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign Currency’s LIBO Rate Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Lender's LIBOR ’s LIBO Rate Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant Lender, which determination shall be conclusive absent manifest error, and notified to the relevant Borrower (with a copy to the Administrative AgentAgents) at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the relevant Borrower by such Lender shall be payable to the Administrative London Agent for the account of such Lender on each date on which interest is payable for such Loan. (d) A reference to a Lender in this Section includes any domestic or foreign branch or Affiliate of such Lender making a Loan as contemplated by Section 2.02(b).

Appears in 1 contract

Sources: Credit Agreement (Broadridge Financial Solutions, Inc.)

Additional Reserve Costs. (a) If and so long as any Lender is required to make special deposits with the Bank of England, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender's LIBOR Loans in any Committed Foreign Currency’s Eurocurrency Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit J E hereto. (b) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Statutory Reserve Rate or the Mandatory Costs Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign Currency’s Eurocurrency Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Lender's LIBOR ’s Eurocurrency Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant Lender, which determination shall be conclusive absent manifest error, and notified to the relevant Borrower (with a copy to the Administrative Agent) at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the relevant Borrower by such Lender shall be payable to the Administrative Agent for the account of such Lender on each date on which interest is payable for such Loan. (d) A reference to a Lender in this Section 2.20 includes any domestic or foreign branch or Affiliate of such Lender making a Loan as contemplated by Section 2.02(b).

Appears in 1 contract

Sources: Credit Agreement (Bowne & Co Inc)

Additional Reserve Costs. (a) If and so long as any Lender is required by the Bank of England or any other monetary or other authority of the United Kingdom to make special deposits with the Bank of Englanddeposits, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender's LIBOR Loans in any Committed Foreign CurrencyEurocurrency Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit J D hereto. (b) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Statutory Reserve Rate or the Mandatory Costs Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign CurrencyEurocurrency Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Lender's LIBOR Eurocurrency Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant Lender, which determination shall be conclusive absent manifest error, and notified to the relevant Borrower (with a copy to the Administrative AgentAgents) at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the relevant Borrower by such Lender shall be payable to the Administrative London Agent for the account of such Lender on each date on which interest is payable for such Loan. (d) A reference to a Lender in this Section 2.20 includes any domestic or foreign branch or Affiliate of such Lender making a Loan as contemplated by Section 2.02(b).

Appears in 1 contract

Sources: Credit Agreement (Pall Corp)

Additional Reserve Costs. (a) If and so long as any Lender is required by the Bank of England or any other monetary or other authority of the United Kingdom to make special deposits with the Bank of Englanddeposits, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender's LIBOR Loans in any Committed Foreign Currency’s LIBO Rate Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit J hereto.D. (b) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Statutory Reserve Rate or the Mandatory Costs Rate) in respect of any of such Lender's LIBOR Loans in any Committed Foreign Currency’s LIBO Rate Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Lender's LIBOR ’s LIBO Rate Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant Lender, which determination shall be conclusive absent manifest error, and notified to the relevant Borrower (with a copy to the Administrative AgentAgents) at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the relevant Borrower by such Lender shall be payable to the Administrative London Agent for the account of such Lender on each date on which interest is payable for such Loan. (d) A reference to a Lender in this Section includes any domestic or foreign branch or Affiliate of such Lender making a Loan as contemplated by Section 2.02(b).

Appears in 1 contract

Sources: Credit Agreement (Broadridge Financial Solutions, Inc.)