Common use of Reserve Costs Clause in Contracts

Reserve Costs. (a) If and so long as a reserve requirement of the type described in the definition of "Euro-Currency Reserve Percentage" is prescribed by the Board of Governors of the Federal Reserve System (or any successor), each Bank subject to such requirement may require each Borrower to pay, contemporaneously with each payment of interest on each of such Bank's Euro-Currency Loans to such Borrower, additional interest on such Euro-Currency Loan at a rate per annum determined by such Bank up to but not exceeding the excess of (i) (A) the applicable London Interbank Offered Rate divided by (B) one minus the Euro-Currency Reserve Percentage over (ii) the applicable London Interbank Offered Rate. Any Bank wishing to require payment of such additional interest (x) shall so notify the Borrowers and the Administrative Agent, in which case such additional interest on the Euro-Currency Loans of such Bank shall be payable to such Bank at the place indicated in such notice with respect to each Interest Period commencing at least three Euro-Currency Business Days after such Bank gives such notice and (y) shall notify each Borrower, at least five Euro-Currency Business Days before each date on which interest is payable on its Euro-Currency Loans, of the amount then due to such Bank under this Section.

Reserve Costs. (a) If and so long as a reserve requirement of the type described in the definition of "“Euro-Currency Reserve Percentage" ” is prescribed by the Board of Governors of the Federal Reserve System (or any successor), each Bank Lender subject to such requirement may require each Borrower to pay, contemporaneously with each payment of interest on each of such Bank's Lender’s Euro-Currency Loans to such Borrower, additional interest on such Euro-Currency Loan at a rate per annum determined by such Bank Lender up to but not exceeding the excess of (i) (A) the applicable London Interbank Offered Rate divided by (B) one minus the Euro-Currency Reserve Percentage over (ii) the applicable London Interbank Offered Rate. Any Bank Lender wishing to require payment of such additional interest (x) shall so notify the Borrowers and the Administrative Agent, in which case such additional interest on the Euro-Currency Loans of such Bank Lender shall be payable to such Bank Lender at the place indicated in such notice with respect to each Interest Period commencing at least three Euro-Currency Business Days after such Bank Lender gives such notice and (y) shall notify each Borrower, at least five Euro-Currency Business Days before each date on which interest is payable on its Euro-Currency Loans, of the amount then due to such Bank Lender under this Section.

Reserve Costs. (a) If and so long as a reserve requirement of the type described in the definition of "Euro-Currency Reserve Percentage" is prescribed by the Board of Governors of the Federal Reserve System (or any successor), each Bank Lender subject to such requirement may require each the Borrower to pay, contemporaneously with each payment of interest on each of such BankLender's Euro-Currency Loans to such BorrowerDollar Loans, additional interest on such Euro-Currency Dollar Loan at a rate per annum determined by such Bank Lender up to but not exceeding the excess of (i) (A) the applicable London Interbank Offered Rate divided by (B) one minus the Euro-Currency Reserve Percentage over (ii) the applicable London Interbank Offered Rate. Any Bank Lender wishing to require payment of such additional interest (x) shall so notify the Borrowers Company and the Administrative Agent, in which case such additional interest on the Euro-Currency Dollar Loans of such Bank Lender shall be payable to such Bank Lender at the place indicated in such notice with respect to each Interest Period commencing at least three Euro-Currency Dollar Business Days after such Bank Lender gives such notice and (y) shall notify each the Borrower, at least five Euro-Currency Dollar Business Days before each date on which interest is payable on its Euro-Currency Dollar Loans, of the amount then due to such Bank Lender under this Section.