LIBOR Rate Indemnity Sample Clauses

LIBOR Rate Indemnity. If the Borrower fails to make any payment of principal or interest in respect of any LIBOR Rate Loan when due or make any payment or prepayment of the principal of any LIBOR Rate Loan, for any reason, on any date other than the last day of the Loan Period applicable thereto, or if the Borrower fails to borrow any LIBOR Rate Loan after requesting the same in accordance with this Agreement, the Borrower shall reimburse the Lenders on demand for all of the Lenders’ costs, expenses and Interest Differential (as determined by the Lenders) resulting from such prepayment or failure to borrow. The term “Interest Differential” shall mean the sum equal to the greater of zero or the financial loss incurred by a Lender resulting from prepayment or failure to borrow, calculated as the difference between the amount of interest Lender would have earned (from like investments in the money markets as of the first day of the Loan Period for the LIBOR Rate Loan) had prepayment or failure to borrow not occurred and the interest the Lender will actually earn (from like investments in the Money Markets as of the date of prepayment or failure to borrow) as a result of redeployment of funds from the prepayment or failure to borrow. Because of the short term nature of this facility, Borrower agrees that the Interest Differential shall not be discounted to its present value.
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LIBOR Rate Indemnity. If the Borrower fails to make any payment of principal or interest in respect of any Loan based upon a LIBOR Rate when due or makes any payment or prepayment of the principal of any such Loan, for any reason, on any date other than the last day of the Loan Period applicable thereto, or if the Borrower fails to borrow any Loan based upon the LIBOR Rate after requesting the same in accordance with this Agreement, the Borrower shall reimburse the Lender on demand for any resulting loss or expense incurred by the Lender, including any loss incurred in obtaining, liquidating or employing deposits from third parties. A statement as to the amount of such loss or expense, prepared in good faith and in reasonable detail by the Lender and submitted to the Borrower, shall be conclusive and binding for all purposes absent manifest error in computation. Without limiting the foregoing, if a LIBOR Loan is prepaid prior to the end of the Loan Period for such LIBOR Loan, whether voluntarily or because prepayment is required due to the occurrence of the Termination Date or on account of a default, Borrower agrees to pay all of Lender’s costs, expenses and Interest Differential, as determined by Lender, incurred as a result of such prepayment.
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LIBOR Rate Indemnity. If USML fails to make any payment of principal or interest in respect of any LIBOR Rate Advance when due or make any payment or prepayment of the principal of any LIBOR Rate Advance, for any reason, on any date other than the last day of the Advance Period applicable thereto, or if USML fails to borrow any LIBOR Rate Advance after requesting the same in accordance with this Agreement, or if any LIBOR Rate Advance is converted to a Floating Rate Advance in accordance with this Agreement on other than the last day of the Advance Period of such LIBOR Rate Advance, the Borrowers must reimburse the Bank on demand by the Bank for any resulting loss or expense incurred by the Bank, including any loss incurred in obtaining, liquidating, or employing deposits from third parties, and must pay the Bank on demand a $150 administrative fee for each LIBOR Advance that is paid on a date other than the last day of the Advance Period for that Advance (each, an "Indemnity Payment" and collectively, "Indemnity Payments"); provided, however, that no such $150 fee is due in connection with LIBOR Rate Advances that must be prepaid in accordance with Section 2.10 of this Agreement. A statement as to the amount of such loss or expense, prepared in good faith and in reasonable detail and submitted by the Bank to the Borrowers is presumptive evidence of the amount of the Bank's loss or expense.
Sample 1
LIBOR Rate Indemnity. Borrowers agree to indemnify Bank and to hold Bank harmless from any loss or expense which Bank may sustain or incur as a consequence of (a) the making by Borrowers of a prepayment (whether mandatory or optional) or any other payment of a Libor Rate Advance on a day which is not the last day of the Interest Period with respect thereto, and/or (b) the conversion, whether voluntary or involuntary, of a Libor Rate Advance into a Prime Rate Advance pursuant to Section, 2.5(g), or otherwise on a day which is not the last day of an Interest Period with respect thereto, including, without limitation, in each case any such loss or expense arising from the reemployment of funds obtained by it to maintain its Libor Rate Advances hereunder or from fees payable to terminate the deposits from which such funds were obtained. This covenant shall survive the termination of this Second Restated Agreement and the payment of the Advances and all other obligations hereunder.
Sample 1
LIBOR Rate Indemnity. The Borrower shall indemnify the Agent and the Banks against any loss or expense that the Agent or any Bank, as the case may be, may sustain or incur as a consequence of any default by the Borrower in the payment of principal or interest on a LIBOR Rate Loan as and when due and payable, or prepayment of any LIBOR Rate Loan or conversion thereof occur on a date which is not a Rollover Date thereof, or the occurrence of any Event of Default specified in this Agreement, including, but not limited to, any loss or expense sustained or incurred by the Agent or any Bank in liquidating or re-employing deposits from third parties acquired to effect or maintain a LIBOR Rate with respect to all or any portion of the LIBOR Rate Loan. The Agent shall provide the Borrower with a statement explaining the amount of any such loss or expense, which statement shall be conclusive and binding upon the Borrower absent manifest error.
Sample 1

Related to LIBOR Rate Indemnity

  • Currency Rate Indemnity (a) The Guarantor shall (to the extent lawful) indemnify the Trustee and the Noteholders and keep them indemnified against:

  • Breakage Indemnity Each Borrower shall indemnify each Lender against any loss, cost or reasonable expense which such Lender may sustain or incur as a consequence of (i) any failure by such Borrower to fulfill on the date of any Borrowing or conversion of Advances hereunder the applicable conditions precedent set forth in Articles III and V, (ii) any failure by such Borrower to borrow any, or convert any outstanding Advance into a, Eurodollar Rate Advance hereunder after a Notice of Contract Borrowing has been delivered pursuant to Section 3.01 hereof or after delivery of a notice of conversion pursuant to Section 3.05(a)(ii) hereof, (iii) any payment, prepayment or conversion of a Eurodollar Rate Advance made to such Borrower required or permitted by any other provision of this Agreement or otherwise made or deemed made on a date other than the last day of the Interest Period applicable thereto, (iv) any default in payment or prepayment of the principal amount of any Eurodollar Rate Advance made to such Borrower or any part thereof or interest accrued thereon, as and when due and payable (at the due date thereof, by irrevocable notice of prepayment or otherwise) or (v) the occurrence of any Event of Default with respect to such Borrower, including, in each such case, any loss or reasonable expense sustained or incurred or to be sustained or incurred in liquidating or employing deposits from third parties acquired to effect or maintain such Advance or any part thereof as a Eurodollar Rate Advance. Such loss, cost or reasonable expense shall include an amount equal to the excess, if any, as reasonably determined by such Lender, of (A) its cost of obtaining the funds for the Eurodollar Rate Advance being paid, prepaid, converted or not borrowed for the period from the date of such payment, prepayment, conversion or failure to borrow to the last day of the Interest Period for such Advance (or, in the case of a failure to borrow, the Interest Period for such Advance which would have commenced on the date of such failure) over (B) the amount of interest (as reasonably determined by such Lender) that would be realized by such Lender in reemploying the funds so paid, prepaid, converted or not borrowed for such period or Interest Period, as the case may be. For purposes of this subsection (d), it shall be presumed that in the case of any Eurodollar Rate Advance, each Lender shall have funded each such Advance with a fixed-rate instrument bearing the rates and maturities designated in the determination of the Applicable Rate for such Advance.

  • Currency indemnity (a) If any sum due from an Obligor under the Finance Documents (a “Sum”), or any order, judgment or award given or made in relation to a Sum, has to be converted from the currency (the “First Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the purpose of:

  • Funding Indemnity In the event of (a) the payment of any principal of a Eurodollar Loan other than on the last day of the Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion or continuation of a Eurodollar Loan other than on the last day of the Interest Period applicable thereto, or (c) the failure by the Borrower to borrow, prepay, convert or continue any Eurodollar Loan on the date specified in any applicable notice (regardless of whether such notice is withdrawn or revoked), then, in any such event, the Borrower shall compensate each Lender, within five (5) Business Days after written demand from such Lender, for any loss, cost or expense attributable to such event. In the case of a Eurodollar Loan, such loss, cost or expense shall be deemed to include an amount determined by such Lender to be the excess, if any, of (A) the amount of interest that would have accrued on the principal amount of such Eurodollar Loan if such event had not occurred at the Adjusted LIBO Rate applicable to such Eurodollar Loan for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Eurodollar Loan) over (B) the amount of interest that would accrue on the principal amount of such Eurodollar Loan for the same period if the Adjusted LIBO Rate were set on the date such Eurodollar Loan was prepaid or converted or the date on which the Borrower failed to borrow, convert or continue such Eurodollar Loan. A certificate as to any additional amount payable under this Section submitted to the Borrower by any Lender (with a copy to the Administrative Agent) shall be conclusive, absent manifest error.

  • Continuing Indemnity Lessor may require Lessee to effect and to maintain insurance after the Expiry Date with respect to its liability under the indemnities in Clause 10 for such period as Lessor may reasonably require (but in any event not more than 3 years) which provides for each Indemnitee to be named as additional insured. Lessee's obligation in this Clause shall not be affected by Lessee ceasing to be lessee of the Aircraft and/or any of the Indemnitees ceasing to have any interest in respect of the Aircraft.

  • Increased Costs Reserves on Eurodollar Rate Loans (a) Increased Costs Generally. If any Change in Law shall:

  • Liability and Indemnity a. In no event shall the City be liable to the Contractor for special, indirect, or consequential damages, except those caused by the City’s gross negligence or willful or wanton misconduct arising out of or in any way connected with a breach of this contract. The maximum liability of the City shall be limited to the amount of money to be paid or received by the City under this contract.

  • Increased Costs Reserves on Eurocurrency Rate Loans (a) If any Change in Law shall:

  • Interest Rate Limitation Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

  • Increased LIBO Rate Loan Costs, etc The Borrower agrees to reimburse each Lender and each Issuer for any increase in the cost to such Lender or Issuer of, or any reduction in the amount of any sum receivable by such Secured Party in respect of, such Secured Party’s Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make or continue) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise in connection with any change in, or the introduction, adoption, effectiveness, interpretation, reinterpretation or phase-in after the Restatement Effective Date of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authority, except for such changes with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6, respectively. Each affected Secured Party shall promptly notify the Administrative Agent and the Borrower in writing of the occurrence of any such event, stating the reasons therefor and the additional amount required fully to compensate such Secured Party for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower directly to such Secured Party within five Business Days of its receipt of such notice, and such notice shall, in the absence of manifest error, constitute prima facie evidence thereof and shall be binding on the Borrower.

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