Common use of Reserves on LIBOR Rate Loans Clause in Contracts

Reserves on LIBOR Rate Loans. The Issuer shall pay to each Purchaser, as long as such Purchaser shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser (as determined by such Purchaser in good faith, which determination shall be conclusive absent manifest error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer shall have received at least fifteen (15) days’ prior written notice (with a copy to each other Purchaser) of such additional interest from the Purchaser. If a Purchaser fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 4 contracts

Samples: Second Lien Note Purchase Agreement (Spinal Elements Holdings, Inc.), Second Lien Note Purchase Agreement (Spinal Elements Holdings, Inc.), Note Purchase Agreement (Spinal Elements Holdings, Inc.)

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Reserves on LIBOR Rate Loans. The Issuer Borrowers shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest demonstrable error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer Borrower Representative shall have received at least fifteen (15) days’ prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice; provided that no Lender shall make a claim for any such additional insurance more than 180 days after such Lender has knowledge of such additional interest.

Appears in 4 contracts

Samples: Credit Agreement (International Textile Group Inc), Credit Agreement (International Textile Group Inc), Credit Agreement (International Textile Group Inc)

Reserves on LIBOR Rate Loans. The Issuer Applicable Borrower, subject to Section 9.24, shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities"), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer Borrower Representative shall have received at least fifteen (15) days' prior written notice (with a copy to each other PurchaserAgent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Revolving Credit Agreement (Real Industry, Inc.)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs interest on the unpaid principal amount of each Term Loan as a LIBOR Rate Loan equal to the actual costs of such reserves allocated to such Term Lender’s Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest error), which shall be due and payable in cash on each date on which interest is payable on such Term Loan Loan, provided the Issuer Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to each other Purchaserthe Administrative Agent) of such additional interest from the Purchasersuch Lender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be due and payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Participation and Servicing Agreement (Walker & Dunlop, Inc.)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities"), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest demonstrable error), payable in cash on each date on which interest is payable on such Term Loan provided Loan; PROVIDED the Issuer Borrower shall have received at least fifteen (15) days' prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (PrimeWood, Inc.)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, ---------------------------- as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities"), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser the Lender (as determined by such Purchaser the Lender in good faith, which determination shall be conclusive absent manifest demonstrable error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer Borrower shall have received at least fifteen (15) days' prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Shade Acquisition Inc)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities"), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser the Lender (as determined by such Purchaser the Lender in good faith, which determination shall be conclusive absent manifest demonstrative error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer Borrower shall have received at least fifteen (15) days' prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant LIBOR Rate Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Packaged Ice Inc)

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Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserBank, as long as such Purchaser Bank shall be required under regulations of the Board of Governors of the Federal Reserve Board System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits liabilities (currently known as “Eurocurrency liabilities”defined in Regulation D), additional costs interest on the unpaid principal amount of each LIBOR Rate Loan of such Bank equal to the actual costs of such reserves allocated to such Term Loan by such Purchaser Bank (as determined by such Purchaser Bank in good faith, which determination shall be conclusive absent manifest error), which shall be due and payable in cash on each date on which interest is payable on such Term Loan Loan, provided that the Issuer Borrower shall have received at least fifteen (15) 10 days' prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from the Purchasersuch Bank. If a Purchaser Bank fails to give written notice fifteen (15) 10 days prior to the last day of GP:3761233v2 the relevant Interest Payment DatePeriod, such additional interest shall be due and payable fifteen (15) 10 days from receipt of such written notice.

Appears in 1 contract

Samples: Credit Agreement (Highwater Ethanol LLC)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such portion of the Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest error), payable in cash on each date on which interest is payable on such portion of the Term Loan provided the Issuer Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to each other PurchaserAgent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Radioshack Corp)

Reserves on LIBOR Rate Loans. The Issuer Borrowers shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or 9656966v810314033v12 including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs interest on the unpaid principal amount of each LIBOR Rate Loan equal to the actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest errorconclusive), which shall be due and payable in cash on each date on which interest is payable on such Term Loan Loan, provided the Issuer Lead Borrower shall have received at least fifteen (15) 10 days’ prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from such Lender, together with a written statement setting forth in reasonable detail the Purchaserbasis for calculating the additional amounts owed to such Lender under this Section 3.04(e). If a Purchaser Lender fails to give notice fifteen (15) 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable fifteen (15) 10 days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Lands' End, Inc.)

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