Common use of Discretion of Lender as to Manner of Funding Clause in Contracts

Discretion of Lender as to Manner of Funding. The Lender shall be entitled to fund and maintain its funding of Eurodollar Rate Advances in any manner it may elect, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, but not limited to, determinations under Section 3.8, but excluding determinations that the Lender may elect to make from the Telerate System, Inc. screen) shall be made as if the Lender had actually funded and maintained each Eurodollar Rate Advance during the Interest Period for such Advance through the purchase of deposits having a maturity corresponding to the last day of the Interest Period and bearing an interest rate equal to the Eurodollar Rate for such Interest Period.

Appears in 5 contracts

Samples: Credit and Security Agreement (Premiumwear Inc), Credit and Security Agreement (Cryenco Sciences Inc), Credit and Security Agreement (Wsi Industries Inc)

AutoNDA by SimpleDocs

Discretion of Lender as to Manner of Funding. The Lender shall be entitled to fund and maintain its funding of Eurodollar Rate Advances in any manner it may elect, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, but not limited to, determinations under Section 3.8, but excluding determinations that the Lender may elect to make from the Telerate System, Inc. screen) shall be made as if the Lender had actually funded and maintained each Eurodollar Rate Advance during the Interest Period for such Advance through the purchase of deposits having a maturity corresponding to the last day of the Interest Period and bearing an interest rate equal to the Eurodollar Rate for such Interest Period.. 3.10

Appears in 1 contract

Samples: Credit and Security Agreement (Wsi Industries Inc)

AutoNDA by SimpleDocs

Discretion of Lender as to Manner of Funding. The Lender shall be entitled to fund and maintain its funding of Eurodollar Rate Advances in any manner it may elect, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, but not limited to, determinations under Section 3.82.7, but excluding determinations that the Lender may elect to make from the Telerate System, Inc. Reuters screen) shall be made as if the Lender had actually funded and maintained each Eurodollar Rate Advance during the Interest Period for such Advance through the purchase of deposits having a maturity corresponding to the last day of the Interest Period and bearing an interest rate equal to the Eurodollar Rate for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Energy West Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.