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

Discretion of the Bank as to Manner of Funding. Notwithstanding any other provision of this Agreement, the Bank shall be entitled to fund and maintain its funding of all or any part of its Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder with respect to Eurodollar Loans shall be made as if the Bank had actually funded and maintained each Eurodollar Loan through the purchase of deposits in the interbank eurodollar market having a maturity corresponding to such Loan’s Interest Period, and bearing an interest rate equal to LIBOR for such Interest Period.

Appears in 4 contracts

Samples: Credit Agreement (Willdan Group, Inc.), Credit Agreement (Pioneer Power Solutions, Inc.), Credit Agreement (Willdan Group, Inc.)

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Discretion of the Bank as to Manner of Funding. Notwithstanding any other provision of this AgreementAgreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of its Loans the Term Loan in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder with respect to Eurodollar Loans shall be made as if the Bank had actually funded and maintained each Eurodollar Loan during each Interest Period for such Eurodollar Loan through the purchase of deposits in the interbank eurodollar market having a maturity corresponding to such Loan’s Interest Period, Period and bearing an interest rate equal to LIBOR the Eurodollar Rate for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Cabot Microelectronics Corp)

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Discretion of the Bank as to Manner of Funding. Notwithstanding any other provision of this Agreement, the Bank shall be entitled to fund and maintain its funding of all or any part of its Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder with respect to Eurodollar LIBOR Loans shall be made as if the Bank had actually funded and maintained each Eurodollar LIBOR Loan through the purchase of deposits in the interbank eurodollar market having a maturity corresponding to such Loan’s Interest Period, and bearing an interest rate equal to LIBOR for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Pioneer Power Solutions, Inc.)

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