ADJUSTMENTS TO THE LIBOR RATE Clause Samples

ADJUSTMENTS TO THE LIBOR RATE. The LIBOR Rate may be automatically adjusted by Foothill on a prospective basis to take into account the additional or increased cost to Foothill of maintaining any necessary reserves for Eurodollar deposits or increased costs due to change in applicable law occurring subsequent to the commencement of the then applicable Interest Period, including but not limited to changes in tax laws (except changes of general applicability in corporate income tax laws) and changes in the reserve requirements imposed by the Board of Governors of the Federal Reserve System (or any successor), excluding the Reserve Percentage, that increase or would increase the costs of funding loans bearing interest at the LIBOR Rate. Foothill shall give Borrower notice of such a determination and adjustment and Borrower may, by notice to Foothill: (i) require Foothill to furnish to Borrower a statement setting forth the basis for adjusting such LIBOR Rate and the method for determining the amount of such adjustment; and/or (ii) repay the LIBOR Rate Advances, or portions thereof, with respect to which such adjustment is made, as appropriate.