Common use of Discretion of Bank as to Manner of Funding Clause in Contracts

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.6, 2.7 and 2.9 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate Portion, having a maturity corresponding to such Interest Period, and bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 4 contracts

Samples: Credit Agreement (Newport Corp), Credit Agreement (Newport Corp), Newport Corp

AutoNDA by SimpleDocs

Discretion of Bank as to Manner of Funding. Notwithstanding Subject to Section 2.9 hereof, but notwithstanding any other provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Revolving Credit Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.62.5, 2.6 and 2.7 and 2.9 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate LIBOR Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate LIBOR Portion, having a maturity corresponding to such Interest Period, and bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 3 contracts

Samples: Credit Agreement (Kaneb Services LLC), JPS Packaging Co, QMS Inc

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the each Bank shall be entitled to fund and maintain its funding of all or any part of the Note its Loans in any manner it sees fit, it being understood, understood however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.6, 2.7 and 2.9 hereof) shall be made as if the Bank Banks had actually funded and maintained each Fixed Rate Portion Loan during each Interest Period applicable thereto for such Loan through the purchase of deposits in the relevant interbank market in the amount of such Fixed Rate Portion, having a maturity corresponding to such Interest Period, Period and bearing an interest rate equal to the LIBOR interest rate applicable thereto (exclusive of the Applicable Margin) for such Interest Period.

Appears in 3 contracts

Samples: Credit Agreement (Mississippi Chemical Corp /MS/), Credit Agreement (Mississippi Chemical Corp /MS/), Mississippi Chemical Corp /MS/

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.68.2, 2.7 8.3 and 2.9 8.4 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate LIBOR Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate LIBOR Portion, having a maturity corresponding to such Interest Period, and bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 2 contracts

Samples: Credit Agreement (Cleveland Cliffs Inc), Credit Agreement (Cleveland Cliffs Inc)

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.62.5, 2.6 and 2.7 and 2.9 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant interbank eurodollar market in the amount of such Fixed Rate Portion, having a maturity corresponding to such Interest Period, and and, in the case of any LIBOR Portion, bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 2 contracts

Samples: Credit Agreement (Oil-Dri Corp of America), Guaranty Agreement (Oil Dri Corporation of America)

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.62.5, 2.7 2.6 and 2.9 2.8 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate LIBOR Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate LIBOR Portion, having a maturity corresponding to such Interest Period, and bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 2 contracts

Samples: Credit Agreement (Hub Group Inc), Credit Agreement (Hub Group Inc)

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.6, 2.7 2.7, and 2.9 2.8 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate Portion, having a maturity corresponding to such Interest Period, and and, in the case of any LIBOR Portion, bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Woodhead Industries Inc)

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note any Loan in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.6, 2.7 and 2.9 2.8 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate LIBOR Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate LIBOR Portion, having a maturity corresponding to such Interest Period, and and, in the case of any LIBOR Portion, bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 1 contract

Samples: Champion Financial Corp /Md/

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.5, 2.6, and 2.7 and 2.9 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate LIBOR Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate LIBOR Portion, having a maturity corresponding to such Interest Period, Period and bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Wells Gardner Electronics Corp)

Discretion of Bank as to Manner of Funding. Notwithstanding any other provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note Notes in any manner it sees fit, ; it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.5, 2.6, and 2.7 and 2.9 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate LIBOR Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate LIBOR Portion, having a maturity corresponding to such Interest Period, and bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Hyco International, Inc.)

AutoNDA by SimpleDocs

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.6, 2.7 2.7, and 2.9 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate Portion, having a maturity corresponding to such Interest Period, and and, in the case of any LIBOR Portion, bearing an interest rate equal to the Adjusted LIBOR for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Primus Guaranty LTD)

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank Xxxxxx shall be entitled to fund and maintain its funding of all or any part of the Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.6, 2.7 2.7, and 2.9 hereof) shall be made as if the Bank Xxxxxx had actually funded and maintained each Fixed Rate LIBOR Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate LIBOR Portion, having a maturity corresponding to such Interest Period, and bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Community First Bankshares Inc)

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note its Notes in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, including determinations under Sections 2.62.9, 2.7 2.10 and 2.9 2.11 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant offshore interbank market in the amount of its share of such Fixed Rate Portion, having a maturity corresponding to such Interest Period, Period and bearing an interest rate equal to the LIBOR interest rate applicable to such Fixed Rate Portion for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Northland Cranberries Inc /Wi/)

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the any Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.611.3, 2.7 11.4 and 2.9 11.5 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate LIBOR Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate 44 50 LIBOR Portion, having a maturity corresponding to such Interest Period, and bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Natural Nutrition Group Inc)

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.6, 2.7 and 2.9 2.8 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate Portion, having a maturity corresponding to such Interest Period, and and, in the case of any LIBOR Portion, bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Bancfirst Corp /Ok/)

Discretion of Bank as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Note Notes in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder (including, without limitation, determinations under Sections 2.6, 2.7 and 2.9 2.8 hereof) shall be made as if the Bank had actually funded and maintained each Fixed Rate LIBOR Portion during each Interest Period applicable thereto through the purchase of deposits in the relevant market in the amount of such Fixed Rate LIBOR Portion, having a maturity corresponding to such Interest Period, and bearing an interest rate equal to the LIBOR for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Midwest Banc Holdings Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.