Common use of BROKEN PERIODS Clause in Contracts

BROKEN PERIODS. If any Bank receives or recovers all or any part of such Bank's share of the Advance otherwise than on the last day of an Interest Period relating to the Advance, the Borrower shall pay to the Agent on demand an amount equal to the amount (if any) by which (a) the additional interest which would have been payable on the amount so received or recovered had it been received or recovered on the last day of that Interest Period exceeds (b) the amount of interest which in the opinion of the Agent would have been payable to the Agent on the last day of that Interest Period in respect of a dollar deposit equal to the amount so received or recovered placed by it with a prime bank in London for a period starting on the third business day following the date of such receipt or recovery and ending on the last day of that Interest Period.

BROKEN PERIODS. If any Bank receives or recovers all or any part of such Bank's share of the an Advance otherwise than on the last day of an Interest Period relating to the such Advance, the Borrower Borrowers shall pay to the Agent on demand an amount equal to the amount (if any) by which (a) the additional interest which would have been payable on the amount so received or recovered had it been received or recovered on the last day of that Interest Period exceeds (b) the amount of interest which in the opinion of the Agent would have been payable to the Agent on the last day of that Interest Period in respect of a dollar deposit equal to the amount so received or recovered placed by it with a prime bank in London for a period starting on the third business day following the date of such receipt or recovery and ending on the last day of that Interest Period.