Common use of Additional Yield on Eligible Assets Bearing a Eurodollar Rate Clause in Contracts

Additional Yield on Eligible Assets Bearing a Eurodollar Rate. The Seller shall pay to the Owner, so long as the Owner shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional Yield on the unpaid Capital of each Eligible Asset of the Owner during each Fixed Period in respect of which Yield is computed by reference to the Eurodollar Rate, for such Fixed Period, at a rate per annum equal at all times during such Fixed Period to the remainder obtained by subtracting (i) the Eurodollar Rate for such Fixed Period from (ii) the rate obtained by dividing such Eurodollar Rate referred to in clause (i) above by that percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of the Owner for such Fixed Period, payable on each date on which Yield is payable on such Eligible Asset. Such additional Yield shall be determined by the Owner and notified to the Seller through the Agent within 60 days after any Yield payment is made with respect to which such additional Yield is requested. A certificate as to such additional Yield submitted to the Seller and the Agent shall be conclusive and binding for all purposes, absent manifest error.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Detroit Edison Securitization Funding LLC), Purchase and Sale Agreement (Detroit Edison Securitization Funding LLC), Purchase and Sale Agreement (Detroit Edison Co)

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Additional Yield on Eligible Assets Bearing a Eurodollar Rate. The Seller shall pay to the an Owner, so long as the such Owner shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional Yield on the unpaid Capital of each Eligible Asset of the such Owner during each Fixed Period in respect of which Yield is computed by reference to the Eurodollar Rate, for such Fixed Period, at a rate per annum equal at all times during such Fixed Period to the remainder obtained by subtracting (i) the Eurodollar Rate for such Fixed Period from (ii) the rate obtained by dividing such Eurodollar Rate referred to in clause (i) above by that percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of the such Owner for such Fixed Period, payable on each date on which Yield is payable on such Eligible Asset. Such additional Yield shall be determined by the Owner and notified to the Seller through the Agent within 60 days after any Yield payment is made with respect to which such additional Yield is requested. A certificate as to such additional Yield submitted to the Seller and the Agent by such Owner shall be conclusive and binding for all purposes, absent manifest evidence of error.

Appears in 2 contracts

Samples: Trade Receivables Purchase and Sale Agreement (Geon Co), Trade Receivables Purchase and Sale Agreement (Polyone Corp)

Additional Yield on Eligible Assets Bearing a Eurodollar Rate. The Seller shall pay to the Ownera Bank, so long as the Owner such Bank shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional Yield on the unpaid Capital of each Eligible Asset of the Owner such Bank during each Fixed Period in respect of which Yield is computed by reference to the Eurodollar Rate, for such Fixed Period, at a rate per annum equal at all times during such Fixed Period to the remainder obtained by subtracting (i) the Eurodollar Rate for such Fixed Period from (ii) the rate obtained by dividing such Eurodollar Rate referred to in clause (i) above by that percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of the Owner such Bank for such Fixed Period, payable on each date on which Yield is payable on such Eligible Asset. Such additional Yield shall be determined by the Owner and notified to the Seller through the Agent within 60 days after any Yield payment is made with respect to which such additional Yield is requested. A certificate as to such additional Yield submitted to the Seller and the Agent by such Bank shall be conclusive and binding for all purposes, absent manifest evidence of error.

Appears in 1 contract

Samples: Polyone Corp

Additional Yield on Eligible Assets Bearing a Eurodollar Rate. The Seller shall pay to the Owner, so long as the Owner shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional Yield on the unpaid Capital of each Eligible Asset of the Owner during each Fixed Period in respect of which Yield is computed by reference to the Eurodollar Rate, for such Fixed Period, at a rate per annum equal at all times during such Fixed Period to the remainder obtained by subtracting (i) the Eurodollar Rate for such Fixed Period from (ii) the rate obtained by dividing such Eurodollar <PAGE> 32 26 Rate referred to in clause (i) above by that percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of the Owner for such Fixed Period, payable on each date on which Yield is payable on such Eligible Asset. Such additional Yield shall be determined by the Owner and notified to the Seller through the Agent within 60 days after any Yield payment is made with respect to which such additional Yield is requested. A certificate as to such additional Yield submitted to the Seller and the Agent shall be conclusive and binding for all purposes, absent manifest error. ARTICLE III CONDITIONS OF PURCHASES SECTION 3.01.

Appears in 1 contract

Samples: Purchase and Sale Agreement

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Additional Yield on Eligible Assets Bearing a Eurodollar Rate. The Seller shall pay to the an Owner, so long as the such Owner shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional Yield on the unpaid Capital of each Eligible Asset of the such Owner during each Fixed Period in respect of which Yield is computed by reference to the Eurodollar Rate, for such Fixed Period, at a rate per annum equal at all times during such Fixed fixed Period to the remainder obtained by subtracting (i) the Eurodollar Rate for such Fixed Period from (ii) the rate obtained by dividing such Eurodollar Rate referred to in clause (i) above by that percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of the such Owner for such Fixed Period, payable on each date on which Yield is payable on such Eligible Asset. Such additional Yield shall be determined by the Owner and notified to the Seller through the Agent within 60 days after any Yield payment is made with respect to which such additional Yield is requested. A certificate as to such additional Yield submitted to the Seller and the Agent by such Owner shall be conclusive and binding for all purposes, absent manifest evidence of error.

Appears in 1 contract

Samples: Trade Receivables Purchase and Sale Agreement (Geon Co)

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