Common use of Broken Funding Clause in Contracts

Broken Funding. If any Bank receives or recovers all or any part of the Loans otherwise than on the scheduled date of repayment of the Loans, the Borrower shall on the first Interest Payment Date following such repayment on demand pay to such Bank an amount equal to the amount (if any) by which: (a) the additional amount of Interest which would, in accordance with the terms of this Agreement, have been payable on the amount so received or recovered had it been received or recovered on the following Interest Payment Date exceeds (b) the amount of Interest which, in the opinion of such Bank, would have been payable to such Bank on the last day of such Interest Period in respect of a deposit in the currency of the Loans, of an amount equal to the amount so received or recovered, had such an amount been placed by it with a prime bank in London for a period starting on the date of such receipt or recovery and ending on the following Interest Payment Date. For the removal of all doubt: (i) with respect to all or any part of the Loans received or recovered otherwise than on the scheduled date of repayment of such amount relating to the Loans, the payment set forth above shall only be made once; and (ii) voluntary or mandatory prepayments made in accordance with clause 7 or 8, as the case may be, on an Interest Payment Date shall not be subject to a payment of broken funding in accordance with this clause 19.1.

Broken Funding. If any the Bank receives or recovers all or any part of the Loans Loan otherwise than on the scheduled date of repayment of the LoansLoan, the Borrower shall on the first Interest Payment Date following such repayment on demand pay to such the Bank an amount equal to the amount (if any) by which: (a) the additional amount of Interest which would, in accordance with the terms of this Agreement, have been payable on the amount so received or recovered had it been received or recovered on the following Interest Payment Date exceeds (b) the amount of Interest which, in the opinion of such the Bank, would have been payable to such the Bank on the last day of such Interest Period in respect of a deposit in the currency of the LoansLoan, of an amount equal to the amount so received or recovered, had such an amount been placed by it with a prime bank in London for a period starting on the date of such receipt or recovery and ending on the following Interest Payment Date. For the removal of all doubt: (i) with respect to all or any part of the Loans Loan received or recovered otherwise than on the scheduled date of repayment of such amount relating to the LoansLoan, the payment set forth above shall only be made once; and (ii) voluntary or mandatory prepayments made in accordance with clause 7 5, 6, 11 or 813.4(b), as the case may be, on an Interest Payment Date shall not be subject to a payment of broken funding in accordance with this clause 19.116.

Broken Funding. If any the Bank receives or recovers all or any part of the Loans any Equipment Loan otherwise than on the scheduled date of repayment of the Loanssuch amount relating to such Equipment Loan, the Borrower shall on the first Interest Payment Date following such repayment on demand pay to such the Bank an amount equal to the amount (if any) by which: (a) the additional amount of Interest which would, in accordance with the terms of this Agreement, have been payable on the amount so received or recovered had it been received or recovered on the following Interest Payment Date exceeds (b) the amount of Interest which, in the opinion of such the Bank, would have been payable to such the Bank on the last day of such Interest Period in respect of a deposit in the currency of the Loansrelevant Loan, of an amount equal to the amount so received or recovered, had such an amount been placed by it with a prime bank in London for a period starting on the date of such receipt or recovery and ending on the following Interest Payment Date. For the removal of all doubt: (i) with respect to all or any part of the Loans any Equipment Loan received or recovered otherwise than on the scheduled date of repayment of such amount relating to the Loanssuch Equipment Loan, the payment set forth above shall only be made once; and (ii) voluntary or mandatory prepayments made in accordance with clause 7 or 8, as the case may be, 6 above on an Interest Payment Date shall not be subject to a payment of broken funding in accordance with this clause 19.114.1.