Common use of Additional Reserve Requirements Clause in Contracts

Additional Reserve Requirements. The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including eurocurrency funds or deposits (currently known as “eurodollar liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which additional interest shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 5 contracts

Samples: Credit Agreement (California Water Service Group), Credit Agreement (California Water Service Group), Credit Agreement (California Water Service Group)

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Additional Reserve Requirements. The Borrower shall pay directly to each Lender, as long as for any period that such Lender shall be is required to maintain reserves with respect to liabilities or assets consisting of or including eurocurrency Eurocurrency funds or deposits (currently known as “eurodollar Eurocurrency liabilities”)) pursuant to Regulation D of the Board of Governors of the Federal Reserve System, additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which Lender. Such additional interest shall be due and payable on each date on which interest is payable on such the applicable Eurodollar Loan, provided the Borrower shall have received at least 10 15 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give such a notice 10 at least 15 days prior to the relevant Interest Payment Datedate on which a payment of interest is to be made, such additional interest shall be due and payable 10 15 days from after receipt of such notice.

Appears in 2 contracts

Samples: Term Loan Agreement (Spirit Realty, L.P.), Term Loan Agreement (Spirit Realty Capital, Inc.)

Additional Reserve Requirements. The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including eurocurrency Eurocurrency funds or deposits (currently known as “eurodollar Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which additional interest in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 ten (10) days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 ten (10) days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 ten (10) days from receipt of such notice.

Appears in 2 contracts

Samples: Credit Agreement (Staples Inc), Credit Agreement (Staples Inc)

Additional Reserve Requirements. The Borrower Company shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including eurocurrency Eurocurrency funds or deposits (currently known as “eurodollar Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which additional interest shall be due and payable on each date on which interest is payable on such Loan, ; provided the Borrower Company shall have received at least 10 ten days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 ten days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 ten days from receipt of such notice.

Appears in 1 contract

Samples: Assignment and Assumption (Thermo Fisher Scientific Inc.)

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Additional Reserve Requirements. The Borrower shall pay to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including eurocurrency Eurocurrency funds or deposits (currently known as “eurodollar "Eurocurrency liabilities"), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which additional interest shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days' prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Seaboard Corp /De/)

Additional Reserve Requirements. The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including eurocurrency Eurocurrency funds or deposits (currently known as “eurodollar Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which additional interest shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Stericycle Inc)

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