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

Discretion of the Banks as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of the Loans in any manner it elects; it being understood, however, that for purposes of this Agreement, all determinations hereunder shall be made as if the Banks had actually funded and maintained each Eurodollar Advance during the Interest Period for such Advance through the purchase of deposits having a term corresponding to such Interest Period and bearing an interest rate equal to the Eurodollar Interbank Rate for such Interest Period.

Appears in 4 contracts

Samples: Credit Agreement (Dain Rauscher Corp), Credit Agreement (Dain Rauscher Corp), Credit Agreement (Interra Financial Inc)

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Discretion of the Banks as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of the Loans in any manner it elects; it being understood, however, that for purposes of this Agreement, all determinations hereunder shall be made as if the Banks had actually funded and maintained each Eurodollar Advance during the Interest Period for such Advance through the purchase of deposits having a term corresponding to such Interest Period and bearing an interest rate equal to the Eurodollar Interbank Rate for such Interest PeriodPeriod (whether or not any Bank shall have granted any participations in such Advances).

Appears in 3 contracts

Samples: Credit Agreement (Otter Tail Corp), Security Agreement (Chronimed Inc), Credit Agreement (American Equity Investment Life Holding Co)

Discretion of the Banks as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of the Loans Advances in any manner it elects; it being understood, however, that for purposes of this Agreement, all determinations hereunder shall be made as if the Banks had actually funded and maintained each Eurodollar Advance during the Interest Period for such Advance through the purchase of deposits having a term corresponding to such Interest Period and bearing an interest rate equal to the Eurodollar Interbank Rate for such Interest PeriodPeriod (whether or not any Bank shall have granted any participations in such Advances).

Appears in 1 contract

Samples: Credit Agreement (Plato Learning Inc)

Discretion of the Banks as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of the Loans Loan in any manner it elects; it being understood, however, that for purposes of this Agreement, all determinations hereunder shall be made as if the Banks had actually funded and maintained each Eurodollar Advance Loan during the Interest Period for such Advance Loan through the purchase of deposits having a term corresponding to such Interest Period and bearing an interest rate equal to the Eurodollar Interbank Rate for such Interest PeriodPeriod (whether or not any Bank shall have granted any participations in such Loan).

Appears in 1 contract

Samples: Credit Agreement (Otter Tail Corp)

Discretion of the Banks as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of the Loans in any manner it elects; it being understood, however, that for purposes of this Agreement, all determinations hereunder shall be made as if the Banks had actually funded and maintained each Daily Pricing Advances and Eurodollar Advance during the Interest Period for such Advance through the purchase of deposits having a term corresponding to such Interest Period and bearing an interest rate equal to the Eurodollar Interbank Rate for such Interest PeriodPeriod (whether or not any Bank shall have granted any participations in such Advances).

Appears in 1 contract

Samples: Revolving Credit Agreement (Pentair Inc)

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Discretion of the Banks as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of its portion of the Loans in any manner it elects; sees fit, it being understood, however, however that for the purposes of this Agreement, Agreement all determinations hereunder shall be made as if the Banks each Bank had actually funded and maintained each Eurodollar Advance Rate Loan during the each related Interest Period for such Advance through the purchase of deposits in the relevant interbank market having a term maturity corresponding to such related Interest Period and bearing an interest rate equal to the Eurodollar Interbank Rate for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Wolverine World Wide Inc /De/)

Discretion of the Banks as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of the Term Loans in any manner it elects; it being understood, however, that for purposes of this Agreement, all determinations hereunder shall be made as if the Banks had actually funded and maintained each Eurodollar Advance during the Interest Period for such Advance through the purchase of deposits having a term corresponding to such Interest Period and bearing an interest rate equal to the Eurodollar Interbank Rate for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Dain Rauscher Corp)

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