Common use of On LIBOR Advances Clause in Contracts

On LIBOR Advances. (i) The Borrower shall pay interest on the outstanding unpaid principal amount of each LIBOR Advance, from the date such Advance is made until it is due (whether at maturity, by reason of acceleration, by scheduled reduction, or otherwise) and repaid, at a rate per annum equal to the LIBOR Basis for such LIBOR Advance. The Administrative Agent, whose determination shall be controlling in the absence of demonstrable error, shall determine the LIBOR Basis on the second Business Day prior to the applicable funding, conversion or continuation date and shall notify the Borrower and the Lenders of such LIBOR Basis. The Administrative Agent shall, at the request of the Borrower, furnish such information concerning the calculation of the LIBOR Basis as the Borrower may reasonably request.