Common use of Break Funding Clause in Contracts

Break Funding. In the event of (a) the payment of any principal of any LIBO Rate Advance other than on the last day of an Interest Period therefor, (b) the conversion of any LIBO Rate Advance to a Base Rate Advance other than on the last day of an Interest Period therefor or (c) the failure to borrow, convert, continue or prepay any LIBO Rate Advance on the date specified in any notice delivered pursuant hereto, then, in any such event, the Borrower shall compensate the Lender for the loss, cost and expense attributable to such event, which shall be deemed to include an amount determined by the Lender to be equal to the excess, if any, of (i) the LIBO Rate for the balance of such Interest Period (or for the Interest Period that would have commenced on such borrowing, conversion, continuation or prepayment), over (ii) the amount of interest that the Lender would earn on such principal amount for the balance of such Interest Period (or for such Interest Period) if the Lender were to invest such principal amount for such period at the interest rate that would be bid by the Lender (or an Affiliate of the Lender) for Dollar deposits from other banks in the London interbank market at the commencement of such period. A certificate of the Lender setting forth any amount or amounts that the Lender is entitled to receive pursuant to this Section 2.10 shall be delivered to the Borrower and shall be conclusive and binding on the Borrower in the absence of manifest error. The Borrower shall pay the Lender the amount shown as due on any such certificate within 10 days after receipt thereof.

Break Funding. In the event of (a) the payment of any principal of any LIBO Rate Advance LIBOR Loan other than on the last day of an Interest Period thereforapplicable thereto (including as a result of an Event of Default), (b) the conversion of any LIBO Rate Advance to a Base Rate Advance LIBOR Loan other than on the last day of an the Interest Period therefor applicable thereto or (c) the failure to borrow, convert, continue or prepay any LIBO Rate Advance LIBOR Loan on the date specified in any notice delivered pursuant hereto, then, in any such event, the Borrower Borrowers shall compensate the Lender Lenders for the loss, cost and expense attributable to such event. In the case of a LIBOR Loan, which such loss, cost or expense to any Lender shall be deemed to include an amount determined by the such Lender to be equal to the excess, if any, of (i) the LIBO Rate amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the LIBOR Basis that would have been applicable to such Loan, for the balance period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period that would have commenced on for such borrowing, conversion, continuation or prepaymentLoan), over (ii) the amount of interest that the Lender which would earn accrue on such principal amount for the balance of such Interest Period (or for such Interest Period) if the Lender were to invest such principal amount for such period at the interest rate that which such Lender would be bid by the Lender (or an Affiliate of the Lender) for Dollar deposits from other banks in the London interbank market were it to bid, at the commencement of such period, for Dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of the such Lender setting forth any amount or amounts that the such Lender is entitled to receive pursuant to this Section 2.10 shall be delivered to the Borrower Representative and shall be conclusive and binding on the Borrower in the absence of absent manifest error. The Borrower Borrowers shall pay the such Lender the amount shown as due on any such certificate within 10 ten (10) days after receipt thereof.

Break Funding. In the event of (a) the payment of any principal of any LIBO Rate Advance a Eurodollar Borrowing other than on the last day of an Interest Period thereforapplicable thereto (including as a result of an Event of Default), (b) the conversion of any LIBO Rate Advance to a Base Rate Advance Eurodollar Borrowing other than on the last day of an the Interest Period therefor applicable thereto, or (c) the failure to borrow, convert, continue or prepay any LIBO Rate Advance Eurodollar Borrowing on the date specified in any notice delivered pursuant hereto, then, in any such event, the Borrower shall compensate the Lender for the loss, cost and expense attributable to such event. Such loss, which cost or expense shall be deemed to include an amount determined by the Funding Lender to be equal to the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Eurodollar Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Eurodollar Loan, for the balance period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period that would have commenced on such borrowing, conversion, continuation or prepaymentfor the Borrowing), over (ii) the amount of interest that the Lender which would earn accrue on such principal amount for the balance of such Interest Period (or for such Interest Period) if the Lender were to invest such principal amount for such period at the interest rate that which the Funding Lender would be bid by the Lender (or an Affiliate of the Lender) for Dollar deposits from other banks in the London interbank market were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of the Funding Lender setting forth any amount or amounts that the Lender Holder is entitled to receive pursuant to this Section 2.10 shall be delivered to the Borrower and shall be conclusive and binding on the Borrower in the absence of absent manifest error. The Borrower shall pay the Lender Holder the amount shown as due on any such certificate within 10 twenty (20) days after receipt thereof.

Break Funding. In the event of If for any reason (ai) the any prepayment or other principal payment of of, or any principal of Conversion of, any LIBO Eurodollar Rate Advance other than is made by the Borrowers to or for the account of a Lender on a date prior to the last day of an the Interest Period thereforapplicable to such Eurodollar Rate Advance, (bii) the conversion Borrowers fails to make any payment or prepayment of any LIBO a Eurodollar Rate Advance for which a notice of prepayment has been given (even if subsequently revoked as permitted by Section 2.04(a)) or that is otherwise required to be made or (iii) a Base Borrowing of a Eurodollar Rate Advance other than on the last day of an Interest Period therefor or (c) the failure to borrow, convert, continue or prepay any LIBO Rate Advance does not occur on the date specified therefor in the relevant Funding Notice or telephonic request for Borrowing, or a Conversion to or continuation of any notice delivered pursuant heretoEurodollar Rate Advance does not occur on the date specified therefor in the relevant Conversion/Continuation Notice or telephonic request for Conversion or continuation, thenthe Borrowers shall, in any each case and upon demand by such eventLender (with a copy of such demand to the Administrative Agent), the Borrower shall compensate the such Lender for the loss, cost and expense attributable to such eventevent (but excluding any anticipated profits). In the case of a Eurodollar Rate Advance, which the loss to any Lender attributable to any such event shall be deemed to include an amount reasonably determined by the such Lender to be equal to the excess, if any, of (i) the LIBO Rate amount of interest that such Lender would pay for a deposit equal to the principal amount of such Advance for the balance period from the date of such payment, conversion or failure to the last day of the then current Interest Period for such Advance (or, in the case of a failure to borrow, convert or for continue a Eurodollar Rate Advance, the duration of the Interest Period that would have commenced on resulted from such borrowing, conversion, continuation conversion or prepayment)continuation) if the interest rate payable on such deposit were equal to the Adjusted Eurodollar Rate for such Interest Period, over (ii) the amount of interest that the such Lender would earn on such principal amount for the balance of such Interest Period (or for period if such Interest Period) if the Lender were to invest such principal amount for such period at the interest rate that would be bid by the such Lender (or an Affiliate affiliate of the such Lender) for Dollar deposits in Dollars from other banks in the London interbank eurocurrency market at the commencement of such period. A certificate of the Lender setting forth any amount or amounts that the Lender is entitled to receive pursuant to this Section 2.10 shall be delivered to the Borrower and shall be conclusive and binding on the Borrower in the absence of manifest error. The Borrower shall pay the Lender the amount shown as due on any such certificate within 10 days after receipt thereof.

Break Funding. In the event of (a) the payment of any principal of any LIBO Rate Advance other than on the last day of an Interest Period therefortherefore, (b) the conversion of any LIBO Rate Advance to a Base Rate Advance other than on the last day of an Interest Period therefor therefore or (c) the failure to borrow, convert, continue or prepay any LIBO Rate Advance on the date specified in any notice delivered pursuant hereto, then, in any such event, the Borrower shall compensate the Lender for the loss, cost and expense attributable to such event, which shall be deemed to include an amount determined by the Lender to be equal to the excess, if any, of (i) the LIBO Rate for the balance of such Interest Period (or for the Interest Period that would have commenced on such borrowing, conversion, continuation or prepayment), over (ii) the amount of interest that the Lender would earn on such principal amount for the balance of such Interest Period (or for such Interest Period) if the Lender were to invest such principal amount for such period at the interest rate that would be bid by the Lender (or an Affiliate of the Lender) for Dollar deposits from other banks in the London interbank market at the commencement of such period. A certificate of the Lender setting forth any amount or amounts that the Lender is entitled to receive pursuant to this Section 2.10 shall be delivered to the Borrower and shall be conclusive and binding on the Borrower in the absence of manifest error. The Borrower shall pay the Lender the amount shown as due on any such certificate within 10 days after receipt thereof.