Cost of Funds True Up Sample Clauses

Cost of Funds True Up. On the date that is four (4) years after the 2021 Increased Amount Date (or if such date is not a Business Day, the next succeeding Business Day) (the “Reset Date”), the Administrative Agent (i) shall determine the difference (in basis points), if any, between the Reset Date Cost of Funds (as defined below) as of such Reset Date and the 2021 Increased Amount Date Cost of Funds (as defined below) and (ii) thereafter shall promptly notify the Lenders and Rayonier of such difference by delivering a certificate in substantially the form of Exhibit G to the Credit Agreement (or in such other form as is mutually acceptable to the Administrative Agent CHAR1\1795764v6 and Rayonier). With respect only to the calculation of interest on 2021 Incremental Term Loan Advances, the Eurodollar Rate (as otherwise determined in accordance with the definition thereof, and giving effect, for all purposes of this Section 3(h)(iii), to any Benchmark Replacement and any Benchmark Replacement Conforming Changes) for any Interest Period shall be increased or decreased, as applicable, by the amount of such difference (in a like amount of basis points), which increase or decrease shall commence from and as of such Reset Date and shall remain in effect until the Maturity Date for the 2021 Incremental Term Loan Advances; provided that, for the avoidance of doubt, in no event shall any decrease in the Eurodollar Rate pursuant to the terms hereof result in an Applicable Margin of less than 1.500% with respect to 2021 Incremental Term Loan Advances. Notwithstanding anything to the contrary herein or in any other Loan Document, such Eurodollar Rate increase or decrease shall be automatic and shall not require an amendment to this Agreement or the consent of any Lender. As used in this Section 3(h)(iii):
Sample 1See All (4)
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Cost of Funds True Up. The Borrower, each Lender and each other party to this Agreement acknowledge that LIBOR may not represent the true cost of funds incurred by the Lenders in connection with making LIBOR Loans available to the Borrower. In recognition of the foregoing, each party to this Agreement agrees that, with respect to each successive Reset Date for Multi-Draw Term Loans, Term A-2 Loans, Term A-3 Loans and Term A-4 Loans bearing interest at LIBOR, the Administrative Agent shall (i) determine the difference (in basis points), if any, between the Current Cost of Funds as of such Reset Date and the Effective Date Cost of Funds (or with respect to the Term A-4 Loans, the Amendment Effective Date Cost of Funds) and (ii) apply such difference (in a like amount of basis points) as an increase (if the Current Cost of Funds as of such Reset Date exceeds the Effective Date Cost of Funds or Amendment Effective Date Cost of Funds, as applicable) or decrease (if the Effective Date Cost of Funds or Amendment Effective Date Cost of Funds, as applicable, exceeds the Current Cost of Funds as of such Reset Date), as applicable, to LIBOR, which increase or decrease shall commence from and as of such Reset Date and shall remain in effect until the earlier of (x) the next Reset Date and (y) repayment in full of all Loans and other outstanding Obligations under the Loan Documents.
Sample 1
Cost of Funds True Up. On the date that is five years after the Closing Date (the “Reset Date”), the Administrative Agent (i) shall determine the difference (in basis points), if any, between the Reset Date Cost of Funds (as defined below) as of such Reset Date and the Closing Date Cost of Funds (as defined below) and (ii) thereafter shall promptly notify the Lenders and the Borrower of such difference by delivering a certificate in substantially the form of Exhibit F (or in such other form as is mutually acceptable to the Administrative Agent and the Borrower). The LIBOR Rate (as otherwise determined in accordance with the definition thereof) for any Interest Period shall be increased or decreased, as applicable, by the amount of such difference (in a like amount of basis 49 points), which increase or decrease shall commence from and as of such Reset Date and shall remain in effect until the Maturity Date; provided that in no event shall the LIBOR Rate for any Interest Period be reduced below zero. As used in this Section 3.4(d):
Sample 1
Cost of Funds True Up. Effective as of the Reset Date, the Applicable Margins shall be increased (if the Reset Date Cost of Funds is higher than the Effective Date Cost of Funds) or decreased (if the Reset Date Cost of Funds is lower than the Effective Date Cost of Funds), as applicable, by the amount of such difference; provided that, in no event, shall any such decrease reduce the Applicable Margins below the Applicable Margins for Level I as of the Closing Date. The determination of such increase or decrease by the Administrative Agent shall be conclusive absent manifest error. Notwithstanding anything to the contrary herein or in any other Loan Document, such increase or decrease in the Applicable Margin shall be automatic and shall not require an amendment to this Agreement or the consent of any Lender. As used in this Section 2.2(c): ​ 34 ​
Sample 1
Cost of Funds True Up. The Borrowers acknowledge that the LIBOR Rate may not represent the true cost of funds incurred by the Lenders in connection with making LIBOR Rate Loans available to the Borrowers. In recognition of the foregoing, the Borrowers agree that, if the Current Cost of Funds (as defined below) on the third anniversary of the Closing Date and every three (3) years thereafter (each a “Reset Date”) differs from the Closing Date Cost of Funds (as defined below) by more than 15 basis points (in either direction), the Administrative Agent shall have the right, in the case of an increase in the Current Cost of Funds from the Closing Date Cost of Funds, and the obligation, in the case of a decrease in the Current Cost of Funds from the Closing Date Cost of Funds, to adjust the all-in interest rate with respect to LIBOR Rate Loans by the number of basis points by which the Current Cost of Funds differs from the Closing Date Cost of Funds, which increase or decrease, as applicable, shall remain in effect until the earlier of (x) the next Reset Date and (y) the Maturity Date applicable to such LIBOR Rate Loans. As used herein:
Sample 1
Cost of Funds True Up. The Borrowers acknowledge that the LIBOR Rate may not represent the true cost of funds incurred by the Lenders in connection with making LIBOR Rate Loans under the Term Loan available to the Borrowers. In recognition of the foregoing, the Borrowers agree that, if the Current Cost of Funds (as defined below) for the seven (7) day period ending on each of the third and sixth anniversaries of the Closing Date (each a “Reset Date”) differs from the Closing Date Cost of Funds (as defined below) by more than 15 basis points (in either direction), the Administrative Agent shall have the right, in the case of an increase in the Current Cost of Funds from the Closing Date Cost of Funds, and the obligation, in the case of a decrease in the Current Cost of Funds from the Closing Date Cost of Funds, to adjust the LIBOR Rate applicable to the Term Loan by 100% of the number of basis points by which the Current Cost of Funds differs from the Closing Date Cost of Funds, which increase or decrease shall remain in effect until the earlier of (x) the next Reset Date and (y) repayment in full of all Obligations with respect to the Term Loan Facility. As used herein:
Sample 1

Related to Cost of Funds True Up

  • Cost of funds (a) If this Clause 3.7 (Cost of funds) applies, the rate of interest on the Loan or the relevant part of the Loan for the relevant Interest Period shall be the percentage rate per annum which is the sum of:

  • Determination of Commercial Paper Rate If the Interest Rate Reset Basis specified above is the Commercial Paper Rate, the interest rate with respect to this Note will be the Commercial Paper Rate plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any, as specified above. “Commercial Paper Rate” means, with respect to any Interest Determination Date, the Money Market Yield (as defined below) of the rate on such Interest Determination Date for commercial paper having the Index Maturity specified above as published in H.15(519) under the caption “Commercial Paper-Nonfinancial”. In the event that such rate is not published by 3:00 P.M., New York City time, on the Calculation Date pertaining to such Interest Determination Date, then the Commercial Paper Rate will be the rate on such Interest Determination Date for commercial paper having the Index Maturity specified above as published in H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the caption “Commercial Paper-Nonfinancial.” If by 3:00 P.M., New York City time, on such Calculation Date such rate is not yet published in either H.15(519), H.15 Daily Update or other recognized electronic source, the Commercial Paper Rate for such Interest Determination Date will be calculated by the Calculation Agent and will be the Money Market Yield of the arithmetic mean of the offered rates at approximately 11:00 A.M., New York City time, on that Interest Determination Date, of three leading dealers of United States dollar commercial paper in The City of New York selected by the Calculation Agent for commercial paper having the Index Maturity specified above placed for industrial issuers whose bond rating is “AA,” or the equivalent, from a nationally recognized statistical rating organization; provided, however, that if the dealers selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Commercial Paper Rate determined as of such Interest Determination Date will be the Commercial Paper Rate in effect on such Interest Determination Date.

  • Funds of Funds The Adviser shall serve as investment adviser for each Portfolio listed below (each a “Fund of Funds”). Lifestyle Aggressive Portfolio Lifecycle 2010 Portfolio Lifestyle Balanced Portfolio Lifecycle 2015 Portfolio Lifestyle Conservative Portfolio Lifecycle 2020 Portfolio Lifestyle Growth Portfolio Lifecycle 2025 Portfolio Lifestyle Moderate Portfolio Lifecycle 2030 Portfolio (collectively, the “Lifestyle Portfolios”) Lifecycle 2035 Portfolio Lifecycle 2040 Portfolio Retirement 2010 Portfolio Lifecycle 2045 Portfolio Retirement 2015 Portfolio Lifecycle 2050 Portfolio Retirement 2020 Portfolio (collectively, the “ Lifecycle Portfolios”) Retirement 2025 Portfolio Retirement 2030 Portfolio Retirement Distribution Portfolio Retirement 2035 Portfolio Retirement Rising Distribution Portfolio Retirement 2040 Portfolio (collectively, the “Retirement Distribution Portfolios”) Retirement 2045 Portfolio Retirement 2050 Portfolio Alternative Asset Allocation Fund (collectively, the “Retirement Portfolios”)

  • Funds for Loans (a) Not later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans or Term Loans, each of the Revolving Credit Lenders or Term Loan Lenders, as applicable, will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Loans which may be disbursed pursuant to §2.1 or §2.2. Upon receipt from each such Revolving Credit Lender or Term Loan Lender, as applicable, of such amount, and upon receipt of the documents required by §10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loans or Term Loans made available to the Agent by the Revolving Credit Lenders or Term Loan Lenders, as applicable, by crediting such amount to the account of the Borrower maintained at the Agent’s Head Office. The failure or refusal of any Revolving Credit Lender or Term Loan Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date, or on the Closing Date or Commitment Increase Date (if applicable) with respect to any Term Loans, the amount of its Commitment Percentage of the requested Loans shall not relieve any other Revolving Credit Lender or Term Loan Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing.

  • Interest and Fee Computation; Collection of Funds Interest accrued hereunder shall be payable as set forth in Section 2.1(c) hereof. Except as otherwise set forth herein, all interest and fees shall be calculated on the basis of a year consisting of 360 days and shall be paid for the actual number of days elapsed. Principal payments submitted in funds not immediately available shall continue to bear interest until collected. If any payment to be made by Borrower hereunder or under the Revolving Note shall become due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be included in computing any interest in respect of such payment. Any Obligations which are not paid when due (subject to applicable grace periods) shall bear interest at the Default Rate.

  • Application of Funds Received It is anticipated that the Master Servicer will be collecting all payments with respect to the Mortgage Loans, any Serviced Companion Mortgage Loan and any B Note (other than payments with respect to REO Income). If, however, the Special Servicer should receive any payments with respect to any Mortgage Loan (other than REO Income) it shall, within one Business Day of receipt from the Mortgagor or otherwise of any amounts attributable to payments with respect to or the sale of any Mortgage Loan or any Specially Serviced Mortgage Loan, if any, (but not including REO Income, which shall be deposited in the applicable REO Account as provided in Section 9.14 hereof), either, (i) forward such payment (endorsed, if applicable, to the order of the Master Servicer), to the Master Servicer, or (ii) deposit such amounts, or cause such amounts to be deposited, in the Certificate Account. The Special Servicer shall notify the Master Servicer of each such amount received on or before the date required for the making of such deposit or transfer, as the case may be, indicating the Mortgage Loan or Specially Serviced Mortgage Loan to which the amount is to be applied and the type of payment made by or on behalf of the related Mortgagor.

  • Increased Costs Reserves on Eurodollar Rate Loans (a) Increased Costs Generally. If any Change in Law shall:

  • Application of Funds in the Collection Account The Master Servicer may, from time to time, make, or cause to be made, withdrawals from the Collection Account for the following purposes:

  • Increased Costs Reserves on Eurocurrency Rate Loans (a) If any Change in Law shall:

  • Federal Funds Effective Rate For any day, the rate per annum (rounded upward to the nearest one-hundredth of one percent (1/100 of 1%)) announced by the Federal Reserve Bank of Cleveland on such day as being the weighted average of the rates on overnight federal funds transactions arranged by federal funds brokers on the previous trading day, as computed and announced by such Federal Reserve Bank in substantially the same manner as such Federal Reserve Bank computes and announces the weighted average it refers to as the “Federal Funds Effective Rate.”

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