Break Funding Cost Sample Clauses

Break Funding Cost. If the Borrower and/or the Joint and Several Obligor make principal payments on any day other than other than the Principal Payment Date or Interest Payment Date, or if the Borrower fails to make a Borrowing after having submitted a Borrowing Request, the Borrower shall reimburse each Creditor, through the Agent, within 10 (ten) calendar days following the request of the latter, any direct losses or resulting duly documented expenses incurred by the Creditors, including, if applicable, the Prepayment Fee, and any loss incurred in the obtaining, liquidation, or use of deposits from third parties . This provision shall survive the term of this Agreement.
Sample 1
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Break Funding Cost. If the Borrower makes any payment of principal with respect to any Loan pursuant to Section 2.05 on any day other than the last day of an Interest Period applicable thereto, or if the Borrower fails to borrow or prepay any Loans after notice has been given to any Bank in accordance with Section 2.05(b) or 3.01(k), the Borrower shall reimburse each Bank, within 15 days after demand, for any resulting expense incurred by it (or by an existing or prospective Participant in the related Loan), including (without limitation) any loss of margin until the then current Interest Period ends, which shall be paid only in the event the TIIE Rate published pre-payment date or failure to borrow is lower than the TIIE Rate applicable for the relevant Interest Period, in which case the loss of margin shall be calculated as the difference between such rates multiplied, by the amount of the Loan to be prepaid or which the Borrower failed to borrow, divided by 360 (three hundred and sixty) and further multiplied times the days pending from the pre-payment date through the date in which the then applicable Interest Period expires; provided, that such Bank shall have delivered to the Borrower a certificate describing the amount of such loss or expense.
Sample 1
Break Funding Cost. In the event that the Borrower makes a principal payment with respect to any Borrowing on a date that is not a Principal Payment Date, or in the event that the Borrower does not have the amounts of the Loan requested in a Borrowing Request because the conditions for the disbursement thereof are not met as set forth in this Agreement, the Borrower shall reimburse Bancomext, within 15 days following Bancomext's written request, for any costs incurred by Bancomext, including loss in the margin until the end of the Interest Period in effect at such time (“Break Funding Cost”), which will be paid only if the Term SOFR published at the time of the payment in question or on the date on which the Borrowing does not occur is lower than the Term SOFR applicable to the Borrowing that is paid or that the Borrower has not borrowed, in which case the margin loss will be calculated as the difference between such rates multiplied by the amount of the Borrowing paid or not drawn by the Borrower, divided by 360 (three hundred sixty) and multiplied by the number of days remaining between the payment date or the date on which the Borrowing was not made and the next Principal Payment Date. The Break Funding cost will be determined by Bancomext and notified in writing to the Borrower.
Sample 1

Related to Break Funding Cost

  • Breakfunding Costs Upon demand of any Lender (with a copy to Administrative Agent) from time to time, Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of:

  • Break Funding Payments In the event of (a) the payment of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(b) and is revoked in accordance therewith) or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.19, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such 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 Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof.

  • Excess Funding Account The amounts in the Excess Funding Account exceed 30% of the sum of the “Adjusted Invested Amounts” of all Series for three consecutive Collection Periods, after giving effect to any payments to be made on each related Payment Date; or

  • Basic Carrying Costs Borrower shall have paid all Basic Carrying Costs relating to the Property which are in arrears, including without limitation, (a) accrued but unpaid insurance premiums relating to the Property, (b) currently due and payable Taxes (including any in arrears) relating to the Property, and (c) currently due Other Charges relating to the Property, which amounts shall be funded with proceeds of the Loan.

  • Break Costs (a) Each Borrower shall, within three Business Days of demand by a Finance Party, pay to that Finance Party its Break Costs attributable to all or any part of a Loan or Unpaid Sum being paid by that Borrower on a day other than the last day of an Interest Period for that Loan or Unpaid Sum.

  • Interest, Funding Losses, Etc All prepayments under this Section 2.05 shall be accompanied by all accrued interest thereon, together with, in the case of any such prepayment of a Eurodollar Rate Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Eurodollar Rate Loan pursuant to Section 3.05. Notwithstanding any of the other provisions of this Section 2.05, so long as no Event of Default shall have occurred and be continuing, if any prepayment of Eurodollar Rate Loans is required to be made under this Section 2.05, prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 2.05 in respect of any such Eurodollar Rate Loan prior to the last day of the Interest Period therefor, the Borrower may, in its sole discretion, deposit with the Administrative Agent the amount of any such prepayment otherwise required to be made hereunder until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.05. Such deposit shall constitute cash collateral for the Eurodollar Rate Loans to be so prepaid; provided that the Borrower may at any time direct that such deposit be applied to make the applicable payment required pursuant to this Section 2.05.

  • Interest Coverage The Borrower shall not permit the ratio of (i) Consolidated EBITDA of the Borrower for any four fiscal quarter period ending on or after June 30, 2008 to (ii) Consolidated Cash Interest Expense of the Borrower for such period to be less than 3.25 to 1.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Funding Fee Seller shall pay to Bank a Funding Fee for each Participated Mortgage Loan as compensation for Bank’s costs and expenses incurred in connection with underwriting and processing its purchase of the Participation Interest in such Participated Mortgage Loan and administering such Participation Interest hereunder. The Funding Fee with respect to any Participated Mortgage Loan shall be: (a) earned in full by Bank on the related Purchase Date; and (b) payable to Bank by Seller upon the earlier to occur of the date on which: (i) all or any portion of the related Participation Interest is to be repurchased by Seller from Bank as contemplated by and in accordance with the terms of this Agreement; (ii) such Participated Mortgage Loan is sold to a Take-Out Purchaser as contemplated by and in accordance with the terms of this Agreement; or (iii) the entire principal balance of such Participated Mortgage Loan has been paid in full by the related Borrower.

  • Calculation of CP Costs On the third Business Day immediately preceding each Settlement Date, each Conduit shall calculate the aggregate amount of its Conduit Costs for the related Settlement Period and shall notify Seller of such aggregate amount.

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