Common use of LIBOR Breakage Fee Clause in Contracts

LIBOR Breakage Fee. In the event of (i) any payment, repayment, mandatory or optional prepayment, or conversion of a Euro Rate Loan for any reason on a date other than the last day of the LIBOR Period for such Euro Rate Loan, and/or (ii) any failure by Borrower for any reason to borrow, convert or prepay a Euro Rate Loan on the date for such borrowing, conversion or prepayment specified in any relevant notice given pursuant to this Agreement, Borrower shall pay to each Lender an amount sufficient to reimburse each Lender for any and all loss (excluding loss of margin or profit), cost or expense incurred or suffered by such Lender that such Lender determines is attributable to the events described in provisions (i) and (ii) of this Section (“LIBOR Breakage Fee”). In the case of a Euro Rate Loan, such LIBOR Breakage Fee shall be the amount determined by such Lender to be the excess, if any, of (x) the amount of interest which would have accrued on the principal amount of such loan had such event not occurred, at the LIBOR Rate plus Applicable LIBOR Margin that would have been applicable to such loan, for the period from the date of such event to the last day of the then current LIBOR Period therefore (or, in the case of a failure to borrow, convert or continue, for the period that would have been the LIBOR Period for such Euro Rate Loan), over (y) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for deposits in Dollars or Euros, as applicable, of a comparable amount and period from other leading banks located in London. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to Borrower and shall be conclusive absent manifest error. Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof.

LIBOR Breakage Fee. In the event of Upon (iA) any payment, repayment, mandatory default by the Borrower in making any borrowing of any LIBOR Loan following the Borrower’s delivery to the Administrative Agent of any applicable Notice of Borrowing or optional prepayment, or conversion (B) any payment of a Euro Rate LIBOR Loan for on any reason on a date other than day that is not the last day of the Interest Period applicable thereto (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), the Borrower shall promptly pay the Administrative Agent, for the benefit of all Lenders that funded or were prepared to fund any such LIBOR Period for such Euro Rate Loan, and/or (ii) any failure by Borrower for any reason to borrow, convert or prepay a Euro Rate Loan on the date for such borrowing, conversion or prepayment specified in any relevant notice given pursuant to this Agreement, Borrower shall pay to each Lender an amount sufficient equal to reimburse each Lender for any and all loss (excluding loss of margin or profit), cost or expense incurred or suffered by such Lender that such Lender determines is attributable to the events described in provisions (i) and (ii) of this Section (“LIBOR Breakage Fee”). In the case of a Euro Rate Loan, such LIBOR Breakage Fee shall be the amount determined by such Lender to be the excess, if any, of (x) the amount of any losses, expenses and liabilities (including, without limitation, any loss (including interest which would have accrued on paid) in connection with the principal amount re-employment of such loan had such event not occurred, at the LIBOR Rate plus Applicable LIBOR Margin funds) that would have been applicable to such loan, for the period from the date any Lender may sustain as a result of such event default or such payment. For purposes of calculating amounts payable to a Lender under this paragraph, each Lender shall be deemed to have actually funded its relevant LIBOR Loan through the last day of the then current LIBOR Period therefore (or, in the case purchase of a failure deposit bearing interest at LIBOR in an amount equal to borrow, convert or continue, for the period that would have been the LIBOR Period for such Euro Rate Loan), over (y) the amount of interest which would accrue on such principal amount that LIBOR Loan and having a maturity and repricing characteristics comparable to the relevant Interest Period; provided, however, that each Lender may fund each of its LIBOR Loans in any manner it sees fit, and the foregoing assumption shall be utilized only for such period at the interest rate which such Lender would bid were it to bid, at the commencement calculation of such period, for deposits in Dollars or Euros, as applicable, of a comparable amount and period from other leading banks located in Londonamounts payable under this subsection. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower (with a copy thereof furnished to the Administrative Agent) and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 fifteen (15) days after receipt thereof.

LIBOR Breakage Fee. In The Borrower shall pay to the event Lenders, immediately upon request and notwithstanding contrary provisions contained in the other Loan Documents, such amounts as shall, in the conclusive judgment of the Lenders, compensate the Lenders for any loss, cost or expense incurred by the Lenders as a result of (i) any payment, repayment, mandatory payment or optional prepayment, or conversion under any circumstances whatsoever, of any portion of the Loans bearing interest at a Euro LIBOR Set Rate Loan for any reason on a date other than the last day of the LIBOR Period for such Euro Rate Loanan applicable Interest Period, and/or (ii) any failure by Borrower the conversion, for any reason whatsoever, of the rate of interest payable under this Agreement from a LIBOR Set Rate with respect to borrowany portion of the Loans then bearing interest at the LIBOR Set Rate on a date other than the last day of an applicable Interest Period, convert (iii) the failure of all or prepay a Euro portion of an advance which was to have borne interest at a LIBOR Set Rate Loan on the date for such borrowing, conversion or prepayment specified in any relevant notice given pursuant to a LIBOR Set Rate Request to be made under this Agreement, or (iv) the failure of the Borrower to borrow in accordance with a LIBOR Set Rate Request submitted by Borrower to the Lenders, which amounts shall pay include, without limitation, with respect to each Lender any LIBOR Set Rate Amount, an amount sufficient equal to reimburse each Lender for any and all loss (excluding loss of margin or profit), cost or expense incurred or suffered by such Lender that such Lender determines is attributable to the events described in provisions (i) and (ii) of this Section (“LIBOR Breakage Fee”). In the case of a Euro Rate Loan, such LIBOR Breakage Fee shall be the amount determined by such Lender to be the excess, if any, of (x) the amount of interest which that would have accrued on the principal amount of such loan had such event not occurred, at the LIBOR Set Rate plus Applicable LIBOR Margin that would have been applicable to such loanon the amount so prepaid, converted, advanced or not borrowed, as the case may be, for the period from the date of such event occurrence to the last day of the then current LIBOR applicable Interest Period therefore (or, in the case of a failure to borrow, convert or continue, for the period that would have been the LIBOR Period for such Euro Rate Loan), over (y) the amount of interest which (as determined in good faith by the Lenders) that the Lenders would accrue on such principal have received for a Euro-Dollar deposit placed by the Lenders with lending banks in the London interbank market for an amount for such period at comparable to the interest rate which such Lender would bid were it to bidamount so prepaid, at converted, not advanced or not borrowed, as the commencement of such periodcase may be, for deposits in Dollars or Euros, as applicable, of a comparable amount and the period from other leading banks located in Londonthe date of occurrence to the last day of the applicable Interest Period. A certificate of any Lender setting forth Notwithstanding this Section 2.5(g), Borrower will not be obligated to pay any amount to a Lender if the loss, cost or amounts that such Lender expense is entitled incurred solely due to receive pursuant to this Section shall be delivered to Borrower and shall be conclusive absent manifest error. Borrower shall pay such Lender an act or omission which constitutes the amount shown as due on any such certificate within 10 days after receipt thereofgross negligence or willful misconduct of said Lender.