BROKEN PERIODS Sample Clauses
The "Broken Periods" clause defines how interest, fees, or other financial calculations are handled for periods that are shorter or longer than the standard interval, such as when a loan starts or ends on a date that does not align with the regular payment schedule. In practice, this clause specifies the method for prorating amounts due, ensuring that payments or interest are calculated fairly for these irregular periods. Its core function is to provide clarity and consistency in financial arrangements by addressing how to handle non-standard timeframes, thereby preventing disputes over partial period calculations.
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BROKEN PERIODS. If any Bank receives or recovers all or any part of such Bank's share of the Advance otherwise than on the last day of an Interest Period relating to the Advance, the Borrower shall pay to the Agent on demand an amount equal to the amount (if any) by which (a) the additional interest which would have been payable on the amount so received or recovered had it been received or recovered on the last day of that Interest Period exceeds (b) the amount of interest which in the opinion of the Agent would have been payable to the Agent on the last day of that Interest Period in respect of a dollar deposit equal to the amount so received or recovered placed by it with a prime bank in London for a period starting on the third business day following the date of such receipt or recovery and ending on the last day of that Interest Period.
BROKEN PERIODS. Funding 2 shall forthwith on demand indemnify the Master Issuer against any loss or liability that the Master Issuer incurs as a consequence of any payment of principal being received from any source otherwise than on a Funding 2 Interest Payment Date or an overdue amount being received otherwise than on its due date.
BROKEN PERIODS. Funding shall forthwith on demand indemnify the Master Issuer against any loss or liability that the Master Issuer incurs as a consequence of any payment of principal being received from any source otherwise than on an Interest Payment Date or an overdue amount being received otherwise than on its due date.
BROKEN PERIODS. Funding 1 shall forthwith on demand indemnify the Issuer against any loss or liability that the Issuer incurs as a consequence of any payment of principal being received from any source otherwise than on a Funding 1 Interest Payment Date or an overdue amount being received otherwise than on its due date.
BROKEN PERIODS. Funding shall forthwith on demand indemnify an Issuer against any loss or liability that such Issuer incurs as a consequence of any payment of principal being received from any source otherwise than on a Payment Date or an overdue amount being received otherwise than on its due date.
BROKEN PERIODS. If the EUR Agent receives or recovers all or any part of a EUR Revolving Loan otherwise than on the last day of the Term thereof, the EUR Borrower shall pay to the EUR Agent, for the benefit of the Lenders, on demand an amount equal to the amount (if any) by which (a) the additional interest which would have been payable on the amount so received or recovered had it been received or recovered on the last day of that Term exceeds (b) the amount of interest which in the opinion of the EUR Agent would have been payable to the Lenders on the last day of that Term in respect of a deposit in the currency of the amount so received or recovered placed by it with a prime bank in London for a period starting on the third business day following the date of such receipt or recovery and ending on the last day of that Term.
BROKEN PERIODS. If any Bank receives or recovers all or any part of its share of an Advance or an Unpaid Sum otherwise than on the last day of the then current Interest Period relating thereto, the Borrower shall pay to the Agent for account of that Bank within seven days of demand such an amount equal to the amount (if any) by which (a) the additional interest which would have been payable on the amount so received or recovered had it been received or recovered on the last day of that Interest Period exceeds (b) the amount of interest which in the reasonable opinion of the Agent would have been payable to the Agent on the last day of that Interest Period in respect of a sterling deposit equal to the amount so received or recovered placed by it with a prime bank in London for a period starting on the third business day following the date of such receipt or recovery and ending on the last day of that Interest Period.
BROKEN PERIODS. If any Bank or the Facility Agent on its behalf receives or recovers all or any part of a Facility A Advance or a Facility B Advance made by such Bank otherwise than on the last day of the Term thereof, or if any Bank or the Facility Agent on its behalf receives or recovers all or any part of a Facility A Term Advance made by such Bank otherwise than on the last day of the Interest Period relating thereto, the Obligor to whom such Advance was made shall pay to the Facility Agent on demand for account of such Bank an amount equal to the amount (if any) by which (a) the additional interest (excluding, for the avoidance of doubt, the Applicable Margin and applicable Reserve Costs) which would have been payable on the amount so received or recovered had it been received or recovered on the last day of the Term or, as the case may be, the Interest Period relating thereto exceeds (b) the amount which that Bank or the Facility Agent would be able to obtain in respect of a deposit in the currency of the amount so received or recovered equal to the principal amount so received or recovered placed by it with a leading bank in the relevant interbank market for a period starting on the date of such receipt or recovery and ending on the last day of the Term or, as the case may be, the Interest Period relating thereto.
BROKEN PERIODS. 14.2.1 If the Lender receives or recovers all or any part of an Advance made by the Lender otherwise than on the last day of an Interest Period relating to that Advance, the relevant Borrower shall pay to the Lender on demand an amount equal to the amount (if any) by which (a) the additional interest which would have been payable on the amount so received or recovered, had it been received or recovered on the last day of that Interest Period exceeds
BROKEN PERIODS. 4.8.1 In the event of the term of the Licence commencing on a day other than the first day or the Resident’s obligations to pay the General Services Charge (or a portion of the General Services Charge) ceasing on a day other than the last day of the relevant period for which the Total Operating Costs have been calculated, the Resident will pay to the Scheme Operator in respect of the broken periods prior to the first complete period and subsequent to the last complete period on the first day of each such broken period a proportionate part of the General Services Charge which would otherwise be payable by the Resident.