Costs, Expenses and Losses. 3.14.1 If IDB incurs cost, expense or loss as a result of the Borrower: 3.14.1.1 failing to (a) pay any Obligations on the due date therefor; (b) borrow in accordance with any Disbursement Request; (c) make any prepayment in accordance with a notice of prepayment pursuant to Section 3.5 (Voluntary Prepayments) or (d) make any repayment or prepayment required pursuant to Section 3.3 (Repayments), Section 3.19 (Illegality) or Section 6.2.8 (Prepayment), as the case may be; 3.14.1.2 pursuant to the terms of this Agreement (a) prepaying all or any portion of the Loan on a date other than an Interest Prepayment Date; (b) converting all or any portion of the Loan into a fixed rate; (c) cancelling all or any portion of the Loan, or (d) not borrowing all or any portion of the Loan; then the Borrower shall immediately pay, in Dollars, to IDB, the amount that IDB shall notify to the Borrower from time to time as being the aggregate of such actual costs, expenses and losses. 3.14.2 For the purposes of this Section 3.14, "costs, expenses or losses" include any interest paid or payable to cover any unpaid amount, any "broken funding" or hedge liquidation costs and any loss, premium, penalty or expense that may be incurred in liquidating or employing deposits of or borrowings from third parties in order to make, maintain or fund all or any part of the Loan (in the case of a late payment, after taking into account any late payment interest received by IDB under Section 3.12 (Late Charges)). 3.14.3 In the case of the Borrower's prepayment of any part of the Loan on a date other than an Interest Prepayment Date, cancelling all or any portion of the Loan, or not borrowing all or any portion of the Loan, the "costs, expenses or losses" incurred by IDB shall include, and the Borrower shall pay to IDB, in addition to any other amounts payable by the Borrower under the preceding clause, the amount determined by IDB to be equal to the excess, if any, of (i) the amount of interest that would have accrued on the principal amount of the Loan, had such prepayment not occurred, at the rate of interest then in effect under Section 3.21 (Interest Rate) for the remainder of the Interest Period during which the relevant repayment is made over (ii) the amount of interest that IDB would earn on such principal amount prepaid for the remainder of such Interest Period if such principal amount were invested for such remaining period at the interest rate that would be bid to IDB from banks in the London interbank market at the time prepayment occurs.
Appears in 1 contract
Samples: Loan Agreement
Costs, Expenses and Losses. 3.14.1 If IDB incurs or any Participant shall incur any cost, expense or loss (other than loss of anticipated profits from investments unrelated to the Loan) under the Paying Agency Agreement or as a result of the Borrower:
3.14.1.1 failing to (a) pay any Obligations on the due date therefor; (b) borrow in accordance with any Disbursement Request; (c) make any prepayment in accordance with a notice of prepayment pursuant to Section 3.5 (Voluntary Prepayments) or Section 3.6 (Mandatory Prepayments); or (d) make any repayment or prepayment required pursuant to Section 3.3 (Repayments), Section 3.19 (Illegality) or Section 6.2.8 3.20 (PrepaymentIllegality), as the case may be;
3.14.1.2 pursuant to the terms of this Agreement (a) 3.14.1. 2 prepaying all or any portion of the Loan on a date other than an Interest Prepayment Payment Date; (b) converting all or any portion of the Loan into a fixed rate; (c) cancelling all or any portion of the Loan, or (d) not borrowing all or any portion of the Loan; then the Borrower shall immediately pay, within thirty (30) days of IDB’s demand therefor, in Dollars, to IDB, IDB the amount that IDB shall notify to the Borrower from time to time as being the aggregate of such actual costs, expenses and losses.
3.14.2 For the purposes of this Section 3.143.14 (Costs, "Expenses and Losses), “costs, expenses or losses" ” include any interest paid or payable to cover any unpaid amount, any "“broken funding" ” or hedge liquidation costs and any loss, premium, penalty or expense that may be incurred in liquidating or employing deposits of or borrowings from third parties in order to make, maintain or fund all or any part of the Loan or a Participation (but, in the case of a late paymenteach case, after taking into account any late payment interest Fixed Rate Prepayment Costs received by IDB under Section 3.12 3.19 (Late Charges)).
3.14.3 In the case of the Borrower's prepayment of any part of the Loan on a date other than an Interest Prepayment Date, cancelling all or any portion of the Loan, or not borrowing all or any portion of the Loan, the "costs, expenses or losses" incurred by IDB shall include, and the Borrower shall pay to IDB, in addition to any other amounts payable by the Borrower under the preceding clause, the amount determined by IDB to be equal to the excess, if any, of (i) the amount of interest that would have accrued on the principal amount of the Loan, had such prepayment not occurred, at the rate of interest then in effect under Section 3.21 (Interest Rate) for the remainder of the Interest Period during which the relevant repayment is made over (ii) the amount of interest that IDB would earn on such principal amount prepaid for the remainder of such Interest Period if such principal amount were invested for such remaining period at the interest rate that would be bid to IDB from banks in the London interbank market at the time prepayment occurs.
Appears in 1 contract
Samples: Loan Agreement
Costs, Expenses and Losses. 3.14.1 If IDB incurs or any Participant shall incur cost, expense or loss as a result of the BorrowerBorrowers:
3.14.1.1 failing to (a) pay any Obligations on the due date therefor; (b) borrow in accordance with any Disbursement Request; (c) make any prepayment in accordance with a notice of prepayment pursuant to Section 3.5 (Voluntary Prepayments) or Section 3.6 (Mandatory Prepayments); or (d) make any repayment or prepayment required pursuant to Section 3.3 (RepaymentsRepayment), Section 3.19 (Illegality) or Section 6.2.8 6.2.15 (Prepayment), as the case may be;
3.14.1.2 pursuant to the terms of this Agreement (a) prepaying all or any portion of the Loan on a date other than an Interest Prepayment Payment Date; (b) converting all or any portion of the Loan into a fixed rate; (c) cancelling all or any portion of the Loan, or (d) not borrowing all or any portion of the Loan; Agreement Loan No. 2028A/OC-AR then the Borrower Borrowers shall immediately pay, in Dollars, to IDB, IDB the amount that IDB shall notify to the Borrower Borrowers from time to time as being the aggregate of such actual costs, expenses and losses.
3.14.2 For the purposes of this Section 3.143.14 (Costs, "Expenses and Losses), “costs, expenses or losses" ” include any interest paid or payable to cover any unpaid amount, any "“broken funding" ” or hedge liquidation costs and any loss, premium, penalty or expense that may be incurred in liquidating or employing deposits of or borrowings from third parties in order to make, maintain or fund all or any part of the Loan or a Participation (in the case of a late payment, after taking into account any late payment interest received by IDB under Section 3.12 (Late Charges)).
3.14.3 In the case of the Borrower's prepayment of any part of the Loan on a date other than an Interest Prepayment Date, cancelling all or any portion of the Loan, or not borrowing all or any portion of the Loan, the "costs, expenses or losses" incurred by IDB shall include, and the Borrower shall pay to IDB, in addition to any other amounts payable by the Borrower under the preceding clause, the amount determined by IDB to be equal to the excess, if any, of (i) the amount of interest that would have accrued on the principal amount of the Loan, had such prepayment not occurred, at the rate of interest then in effect under Section 3.21 (Interest Rate) for the remainder of the Interest Period during which the relevant repayment is made over (ii) the amount of interest that IDB would earn on such principal amount prepaid for the remainder of such Interest Period if such principal amount were invested for such remaining period at the interest rate that would be bid to IDB from banks in the London interbank market at the time prepayment occurs.
Appears in 1 contract
Samples: Loan Agreement (Adecoagro S.A.)
Costs, Expenses and Losses. 3.14.1 If IDB incurs or any Participant shall incur cost, expense or loss as a result of the BorrowerBorrowers:
3.14.1.1 failing to (a) pay any Obligations on the due date therefor; (b) borrow in accordance with any Disbursement Request; (c) make any prepayment in accordance with a notice of prepayment pursuant to Section 3.5 (Voluntary Prepayments) or Section 3.6 (Mandatory Prepayments); or (d) make any repayment or prepayment required pursuant to Section 3.3 (RepaymentsRepayment), Section 3.19 (Illegality) or Section 6.2.8 6.2.15 (Prepayment), as the case may be;
3.14.1.2 pursuant to the terms of this Agreement (a) prepaying all or any portion of the Loan on a date other than an Interest Prepayment Payment Date (and for the avoidance of doubt, the making of the Partial Current A Loan Payment pursuant to Section 1.7.1.2 shall not be considered a prepayment);
3.14.1.3 cancelling any or all of the Loans pursuant to Section 3.15 (Suspension or Cancellation by IDB) or Section 3.16 (Cancellation by the Borrower); and
3.14.1.4 failing to submit a Disbursement Request for the last Disbursement (a) on or prior to the Commitment Termination Date; , or (b) converting all or prior to the cancellation of any portion undisbursed amounts of the A Loan into a fixed rate; in accordance with Section 3.15 (cSuspension or Cancellation by IDB) cancelling all or any portion of Section 3.16 (Cancellation by the LoanBorrower), or (d) not borrowing all or any portion of the Loan; then the Borrower Borrowers shall immediately pay, in Dollars, to IDB, IDB the amount that IDB shall notify to the Borrower Borrowers from time to time as being the aggregate of such actual costs, expenses and losses.
3.14.2 For the purposes of this Section 3.143.14 (Costs, "Expenses and Losses), “costs, expenses or losses" ” shall include any interest paid or payable to cover any unpaid amount, any "“broken funding" ” or hedge liquidation costs and any loss, premium, penalty or expense that may be incurred in liquidating or employing deposits of or borrowings from third parties in order to make, maintain or fund all or any part of the Loan (or a Participation but, in each case, after taking into account any Fixed Rate Breakage Costs received by IDB, and, in the case of a late payment, after taking into account any late payment interest received by IDB under Section 3.12 (Late Charges)).
3.14.3 In the case of the Borrower's prepayment . IDB’s determination of any part of the Loan on a date other than an Interest Prepayment Date, cancelling all or any portion of the Loan, or not borrowing all or any portion of the Loan, the "“costs, expenses or losses" incurred by IDB ” shall include, be final and conclusive and bind the Borrower shall pay unless the Borrower proves to IDB, in addition to any other amounts payable by ’s satisfaction that the Borrower under the preceding clause, the amount determined by IDB to be equal to the excess, if any, of (i) the amount of interest that would have accrued on the principal amount of the Loan, had such prepayment not occurred, at the rate of interest then in effect under Section 3.21 (Interest Rate) for the remainder of the Interest Period during which the relevant repayment is made over (ii) the amount of interest that IDB would earn on such principal amount prepaid for the remainder of such Interest Period if such principal amount were invested for such remaining period at the interest rate that would be bid to IDB from banks in the London interbank market at the time prepayment occursdetermination involved manifest error.
Appears in 1 contract
Samples: Loan Agreement (Adecoagro S.A.)