Common use of Notional Funding Clause in Contracts

Notional Funding. The Bank shall have the right from time to time, without notice to the Borrower, to deem any branch, subsidiary or Affiliate entity (which for the purposes of this Section 11.5 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls the Bank) of the Bank to have made, maintained or funded any portion of the Loan to which the Euro-Rate Option applies at any time, provided that immediately following (on the assumption that a payment was then due from the Borrower to such other office), and as a result of such change, the Borrower would not be under any greater financial obligation pursuant to Section 3.12 than it would have been in the absence of such change. Notional funding offices may be selected by the Bank without regard to the Bank's actual methods of making, maintaining or funding the Loan or any sources of funding actually used by or available to the Bank.

Appears in 1 contract

Samples: Loan Agreement (Interstate Hotels Corp)

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Notional Funding. The Each Bank shall have the right from time to time, without notice to the Borrower, to deem any branch, subsidiary Subsidiary or Affiliate entity (which for the purposes of this Section 11.5 10.5 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls the such Bank) of the such Bank to have made, maintained or funded any portion of the Loan to which the Revolving Credit Euro-Rate Option applies at any time, provided that immediately following (on the assumption that a payment was were then due from the Borrower to such other office), and as a result of such change, the Borrower would not be under any greater financial obligation pursuant to Section 3.12 4.5 than it would have been in the absence of such change. Notional funding offices may be selected by the each Bank without regard to the such Bank's actual methods of making, maintaining or funding the Loan Loans or any sources of funding actually used by or available to the such Bank.; and

Appears in 1 contract

Samples: Credit Agreement (Cuno Inc)

Notional Funding. The Each Bank shall have the right from time to time, without notice to the BorrowerBorrowers, to deem any branch, subsidiary Subsidiary or Affiliate entity (which for the purposes of this Section 11.5 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls the such Bank) of the such Bank to have made, maintained or funded any portion of the Revolving Credit Loan to which the Euro-Rate Option applies at any time, provided that immediately following (on the assumption that a payment was were then due from the Borrower Borrowers to such other office), and as a result of such change, the Borrower Borrowers would not be under any greater financial obligation pursuant to Section 3.12 5.6 than it would have been in the absence of such change. Notional funding offices may be selected by the each Bank without regard to the Bank's actual methods of making, maintaining or funding the Loan Revolving Credit Loans or any sources of funding actually used by or available to the such Bank.

Appears in 1 contract

Samples: Credit Agreement (Phymatrix Corp)

Notional Funding. The Each Bank shall have the right from time to time, without notice to the BorrowerBorrowers, to deem any branch, subsidiary Subsidiary or Affiliate entity (which for the purposes of this Section 11.5 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls the such Bank) of the such Bank to have made, maintained or funded any portion of the Loan to which the a Euro-Rate Option applies at any time, provided PROVIDED that immediately following (on the assumption that a payment was were then due from the applicable Borrower to such other office), and as a result of such change, the applicable Borrower would not be under any greater financial obligation pursuant to Section 3.12 5.6 than it would have been in the absence of such change. Notional funding offices may be selected by the each Bank without regard to the such Bank's actual methods of making, maintaining or funding the Loan Loans or any sources of funding actually used by or available to the such Bank.

Appears in 1 contract

Samples: Credit Agreement (Commercial Intertech Corp)

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Notional Funding. The Bank shall have the right from time to time, without notice to the BorrowerLoan Parties, to deem any branch, subsidiary or Affiliate entity affiliate (which for the purposes of this Section 11.5 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls the Bank) of the Bank to have made, maintained or funded any portion of the Revolving Credit Loan to which the Revolving Credit Euro-Rate Option applies at any time, provided that immediately following (on the assumption that a payment was were then due from the Borrower Borrowers to such other office), ) and as a result of such change, change the Borrower Borrowers would not be under any greater financial obligation pursuant to Section 3.12 5.4 than it they would have been in the absence of such change. Notional funding offices may be selected by the Bank without regard to the Bank's actual methods of making, maintaining or funding the Loan Loans or any sources of funding actually used by or available to the Bank.

Appears in 1 contract

Samples: Credit Agreement (Integra Inc)

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