Common use of Additional Interest on Eurodollar Rate Advances Clause in Contracts

Additional Interest on Eurodollar Rate Advances. The Borrower shall pay to each Lender, during each period as such 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such period, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period applicable to such Advance from (ii) the rates obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such Lender during such period, payable on each date on which interest is payable on such Advance. Such Lender shall determine the amount of such additional interest, if any, and promptly notify the Borrower through the Agent of the amount thereof.

Appears in 3 contracts

Samples: Facility B (Five Year) Credit Agreement (Stanley Works), Facility a (364 Day) Credit Agreement (Stanley Works), Credit Agreement (Stanley Works)

AutoNDA by SimpleDocs

Additional Interest on Eurodollar Rate Advances. The Borrower shall pay to each A Lender, during each period so long as such A Lender 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such periodA Lender, from the later of the date such reserves are required and the making of such A Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period applicable to for such A Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such A Lender during for such periodInterest Period, payable on each date on which interest is payable on such A Advance. Such additional interest shall be determined by such A Lender shall determine the amount of such additional interest, if any, and promptly notify notified to the Borrower through the Agent of the amount thereofAgent.

Appears in 2 contracts

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

Additional Interest on Eurodollar Rate Advances. The Borrower shall pay to each Lender, during each period as such 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such period, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period applicable to such Advance from (ii) the rates obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such Lender during such period, payable on each date on which interest is payable on such Advance. Such Lender shall determine the amount of such additional interest, if any, and promptly notify the Borrower through the Administrative Agent of the amount thereof.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Stanley Works), Credit Agreement (Stanley Works)

Additional Interest on Eurodollar Rate Advances. The Borrower shall pay to each Lender, during each period as such 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such period, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period applicable to such Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such Lender during such period, payable on each date on which interest is payable on such Advance. Such Lender shall determine the amount of such additional interest, if any, and promptly notify the Borrower through the Administrative Agent of the amount thereof.

Appears in 2 contracts

Samples: Credit Agreement (Stanley Works), Credit Agreement (Stanley Works)

Additional Interest on Eurodollar Rate Advances. The Borrower ----------------------------------------------- shall pay to each A Lender, during each period so long as such A Lender 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such periodA Lender, from the later of the date such reserves are required and the making of such A Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period applicable to for such A Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such A Lender during for such periodInterest Period, payable on each date on which interest is payable on such A Advance. Such additional interest shall be determined by such A Lender shall determine the amount of such additional interest, if any, and promptly notify notified to the Borrower through the Agent of the amount thereofAgent.

Appears in 2 contracts

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

Additional Interest on Eurodollar Rate Advances. The Borrower shall pay to each Lender, during each period so long as such Lender 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such periodperiods as such Advance is a Eurodollar Rate Advance, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the such Interest Period applicable to for such Eurodollar Rate Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such Lender during for such periodInterest Period, payable on each date on which interest is payable on such Eurodollar Rate Advance. Such additional interest shall be determined by such Lender shall determine the amount of such additional interest, if any, and promptly notify notified to the Borrower through the Agent of the amount thereofAgent.

Appears in 2 contracts

Samples: Credit Agreement (Columbia Energy Group), Credit Agreement (Columbia Gas System Inc)

Additional Interest on Eurodollar Rate Advances. The Borrower shall pay to each Lender, during each period so long as any such 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such periodLender, from the later date of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (iA) the Eurodollar Rate for the Interest Period applicable to for such Advance from (iiB) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such Lender during for such periodInterest Period, payable on each date on which interest is payable on such Advance. Such additional interest payable to any Lender shall determine be determined by such Lender and notified to the amount Borrower through the Agent (such notice to include the calculation of such additional interest, if anywhich calculation shall be conclusive in the absence of manifest error, and promptly notify be accompanied by any evidence indicating the need for such additional interest as the Borrower through the Agent of the amount thereofmay reasonably request).

Appears in 1 contract

Samples: Credit Agreement (Carriage Services Inc)

Additional Interest on Eurodollar Rate Advances. The applicable Borrower shall pay to each Lender, during each period so long as such Lender 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during to such periodBorrower, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the applicable Interest Period applicable to for such Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus MINUS the average Eurodollar Rate Reserve Percentage of such Lender during for such periodInterest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender shall determine the amount of and notified in reasonable detail to such additional interest, if any, and promptly notify the Borrower through the Agent of the amount thereofAgent.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Hershey Foods Corp)

Additional Interest on Eurodollar Rate Advances. The Each Borrower shall pay to each Lender, during each period so long as such Lender 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of made to it by such Lender outstanding during such periodLender, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder difference obtained by subtracting (ia) the Eurodollar Rate for the Interest Period applicable to for such Eurodollar Rate Advance from (iib) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate LIBOR Reserve Percentage of such Lender during for such periodInterest Period or such term, as the case may be, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender shall determine the amount of and notified to such additional interest, if any, and promptly notify the Borrower through the Agent of the amount thereofAdministrative Agent.

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Psi Energy Inc)

AutoNDA by SimpleDocs

Additional Interest on Eurodollar Rate Advances. The ----------------------------------------------- Borrower shall pay to each A Lender, during each period so long as such A Lender 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such periodA Lender, from the later of the date such reserves are required and the making of such A Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period applicable to for such A Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such A Lender during for such periodInterest Period, payable on each date on which interest is payable on such A Advance. Such additional interest shall be determined by such A Lender shall determine the amount of such additional interest, if any, and promptly notify notified to the Borrower through the Agent of the amount thereofAgent.

Appears in 1 contract

Samples: Credit Agreement (Gap Inc)

Additional Interest on Eurodollar Rate Advances. The Borrower shall pay to each Lender, during each period so long as such Lender 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such periodLender, from the later of the date such reserves are required and the making of such Revolving Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period applicable to for such Revolving Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such Lender during for such periodInterest Period, payable on each date on which interest is payable on such Revolving Advance. Such additional interest shall be determined by such Lender shall determine the amount of such additional interest, if any, and promptly notify notified to the Borrower through the Agent of the amount thereofand any such determination shall be conclusive and binding for all purposes absent manifest error.

Appears in 1 contract

Samples: Revolving Credit Agreement (Foundation Health Systems Inc)

Additional Interest on Eurodollar Rate Advances. The Each Borrower shall pay to each Lender, during each period as such 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such period, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period applicable to such Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Eurocurrency Rate Reserve Percentage of such Lender during such period, payable on each date on which interest is payable on such Advance. Such Lender shall determine the amount of such additional interest, if any, and promptly notify the relevant Borrower through the Administrative Agent of the amount thereof.

Appears in 1 contract

Samples: Credit Agreement (Stanley Works)

Additional Interest on Eurodollar Rate Advances. The Borrower shall pay to each Lender, during each period so long as any such 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate 3rd Amended/Restated Credit Agreement Advance of such Lender outstanding during such periodLender, from the later of the effective date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period applicable to for such Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such Lender during for such periodInterest Period, payable on each date on which interest is payable on such Advance. Such additional interest payable to any Lender shall determine be determined by such Lender and notified to the amount Borrower in writing through the Administrative Agent (such notice to include the detailed calculation of such additional interest, if any, and promptly notify which calculation shall be conclusive in the Borrower through the Agent absence of the amount thereofmanifest error).

Appears in 1 contract

Samples: Credit Agreement (Holly Energy Partners Lp)

Additional Interest on Eurodollar Rate Advances. The Borrower shall pay to each Lender, during each period so long as such Lender 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 Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender outstanding during such periodperiods as such Advance is a Eurodollar Rate Advance, from the later of the date such reserves are required and the making of such Advance until the earlier of the date such reserves are no longer required and such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the such Interest Period applicable to for such Eurodollar Rate Advance from (ii) the rates rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the average Eurodollar Rate Reserve Percentage of such Lender during for 24 29 such periodInterest Period, payable on each date on which interest is payable on such Eurodollar Rate Advance. Such additional interest shall be determined by such Lender shall determine the amount of such additional interest, if any, and promptly notify notified to the Borrower through the Agent of the amount thereofAgent.

Appears in 1 contract

Samples: Credit Agreement (Columbia Energy Group)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!