Common use of Break Funding Costs Clause in Contracts

Break Funding Costs. In the event of (a) the payment of any principal of any Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the failure (other than as a result of a default by such Lender) to prepay any Loan on the date specified in any notice delivered pursuant hereto, or (c) the assignment of any 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 2.17, then, in any such event, each Borrower shall compensate each Lender for the loss, cost and expense sustained by such Lender attributable to such event with respect to the Class of Loans made to such Borrower. 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 LIBO Rate (minus the Applicable Margin) 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, 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 (collectively, "Break Funding Costs"). Calculation of all amounts payable to a Lender under this Section 2.15 shall be made as though that Lender had actually funded each of its relevant Loans through the purchase of an eurodollar deposit bearing interest at the rate obtained pursuant to the definition of LIBO Rate in an amount equal to the amount of such Loan and having a maturity comparable to the relevant Interest Period; provided, however, that each Lender may fund each of its Loans in any manner it sees fit and the foregoing assumptions shall be utilized only for the purposes of calculating amounts payable under this Section 2.15. 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 Borrowers (with a copy to the Administrative Agent) and shall be conclusive absent manifest error. The applicable Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof.

Break Funding Costs. In the event of (a) the payment of any principal of any Loan a LIBOR Advance other than on the last day of an the Interest Period applicable thereto (including as a result of an Event of Default), (b) the failure (other than as a result conversion or continuation of a default by such Lender) to prepay any Loan on the date specified in any notice delivered pursuant hereto, or (c) the assignment of any Loan LIBOR Advance other than on the last day of the Interest Period applicable thereto as a result of a request thereto, or (c) the failure by the Borrower pursuant to Section 2.17borrow, prepay, convert or continue any LIBOR Advance on the date specified in any applicable notice (regardless of whether such notice is withdrawn or revoked), then, in any such event, each the Borrower shall compensate each Lender Lender, within five (5) Banking Days after written demand from such Lender, for the loss, cost and expense sustained by such Lender attributable to such event with respect to the Class of Loans made to such Borrower. Such any loss, cost or expense attributable to any Lender such event. In the case of a LIBOR Advance, such loss, cost or expense shall be deemed to include an amount determined by such Lender to be the excess, if any, of (iA) the amount of interest which that would have accrued on the principal amount of such Loan had LIBOR Advance if such event had not occurred, occurred at the LIBO Rate (minus the Applicable Margin) that would have been LIBOR applicable to such Loan, LIBOR Advance for the period from the date of such event to the last day of the then current Interest Period therefortherefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such LIBOR Advance) over (iiB) the amount of interest which that would accrue on such the 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 (collectively, "Break Funding Costs"). Calculation of all amounts payable to a Lender under this Section 2.15 shall be made as though that Lender had actually funded each of its relevant Loans through the purchase of an eurodollar deposit bearing interest at the rate obtained pursuant to the definition of LIBO Rate in an amount equal to the amount of such Loan and having a maturity comparable to the relevant Interest Period; provided, however, that each Lender may fund each of its Loans in any manner it sees fit and the foregoing assumptions shall be utilized only LIBOR Advance for the purposes of calculating amounts same period if LIBOR were set on the date such LIBOR Advance was prepaid or converted or the date on which the Borrower failed to borrow, convert or continue such LIBOR Advance. A certificate as to any additional amount payable under this Section 2.15. A certificate of submitted to the Borrower by any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrowers (with a copy to the Administrative Agent) and shall be conclusive conclusive, absent manifest error. The applicable Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof.

Break Funding Costs. In the event of (ai) the payment of any principal of any Loan the LIBOR Rate Loans other than on the last day of an Interest Period applicable thereto therefor (including as a result of an Event of Default), (bii) the conversion of any LIBOR Rate Loan other than on the last day of an Interest Period therefor, or (iii) the failure (other than as a result of a default by such Lender) to borrow, convert, continue or prepay any the Loan on the date specified in any notice delivered pursuant hereto, or (c) the assignment of any 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 2.17, then, in any such event, each Borrower shall compensate each Lender pay Administrative Agent (for the lossbenefit of the Lenders) to compensate for the loss (other than loss of margin or spread), cost and expense sustained by such Lender attributable to such event with respect to event. In the Class case of Loans made to a LIBOR Rate Loan, such Borrower. Such loss, cost or expense to any Lender the Lenders shall be deemed to include an amount determined by such Lender to be equal 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 LIBO LIBOR Rate (minus the Applicable Margin) 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 therefortherefor (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 Administrative Agent 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 (collectively, "Break Funding Costs"). Calculation of all amounts payable to a Lender under this Section 2.15 shall be made as though that Lender had actually funded each of its relevant Loans through the purchase of an eurodollar deposit bearing interest at the rate obtained pursuant to the definition of LIBO Rate in an amount equal to the amount of such Loan and having a maturity comparable to the relevant Interest Period; provided, however, that each Lender may fund each of its Loans in any manner it sees fit and the foregoing assumptions shall be utilized only for the purposes of calculating amounts payable under this Section 2.15London interbank market. A certificate of any Lender Administrative Agent setting forth any amount or amounts that such the Lender is entitled to receive pursuant to this Section shall be delivered to the Borrowers (with a copy to the Administrative Agent) Borrower and shall be conclusive absent manifest error. The applicable Borrower shall pay such Lender Administrative Agent the amount shown as due on any such certificate within 10 days fifteen (15) Business Days after receipt thereof.

Break Funding Costs. In the event of (ai) the payment of any principal of any the LIBOR Rate Loansa SOFR Based Loan other than on the last day of an Interest Period applicable thereto therefor (including as a result of an Event of Default), (bii) the conversion of any LIBOR RateSOFR Based Loan other than on the last day of an Interest Period therefor, or (iii) the failure (other than as a result of a default by such Lender) to borrow, convert, continue or prepay any the Loan on the date specified in any notice delivered pursuant hereto, or (c) the assignment of any 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 2.17, then, in any such event, each Borrower shall compensate each Lender pay Administrative Agent (for the lossbenefit of the Lenders) to compensate for the loss (other than loss of margin or spread), cost and expense sustained by such Lender attributable to such event with respect to event. In the Class case of Loans made to a LIBOR Rate Loan, such Borrower. Such loss, cost or expense to any Lender the Lenders shall be deemed to include an amount determined by such Lender to be equal 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 LIBO LIBOR Rate (minus the Applicable Margin) 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 therefortherefor (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 Administrative Agent 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 (collectively, "Break Funding Costs"). Calculation of all amounts payable to a Lender under this Section 2.15 shall be made as though that Lender had actually funded each of its relevant Loans through the purchase of an eurodollar deposit bearing interest at the rate obtained pursuant to the definition of LIBO Rate in an amount equal to the amount of such Loan and having a maturity comparable to the relevant Interest Period; provided, however, that each Lender may fund each of its Loans in any manner it sees fit and the foregoing assumptions shall be utilized only for the purposes of calculating amounts payable under this Section 2.15London interbank market. A certificate of any Lender Administrative Agent setting forth any amount or amounts that such the Lender is entitled to receive pursuant to this Section shall be delivered to the Borrowers (with a copy to the Administrative Agent) Borrower and shall be conclusive absent manifest error. The applicable Borrower shall pay such Lender Administrative Agent the amount shown as due on any such certificate within 10 days fifteen (15) Business Days after receipt thereof.