Facility Agent’s calculations Sample Clauses
The 'Facility Agent’s calculations' clause defines the authority and responsibility of the facility agent to make calculations related to the financial arrangements under the agreement. In practice, this means the facility agent determines amounts such as interest, fees, or repayment obligations, and communicates these figures to the relevant parties. This clause ensures that there is a single, trusted party responsible for performing and certifying calculations, thereby reducing disputes and providing clarity and consistency in the administration of the facility.
Facility Agent’s calculations. Each Lender’s participation in a Loan will be determined in accordance with paragraph (b) of Clause 5.4 (Lenders’ participation).
Facility Agent’s calculations. (a) All calculations made by the Facility Agent pursuant to this Clause 6 will take into account any repayment, prepayment, consolidation or division of Loans to be made on the last day of the first Interest Period for that Loan.
(b) Each Lender's participation in a Loan will, subject to paragraph (a) above, be determined in accordance with paragraph (b) of Clause 5.4 (Lenders' participation).
Facility Agent’s calculations. Each Senior Lender’s participation in an Advance will be determined in accordance with paragraph (b) of Clause 5.4 (Senior Lenders’ participation).
Facility Agent’s calculations. (a) If a Term Loan is to be denominated in different currencies during two successive Interest Periods:
(i) if the currency for the second Interest Period is an Optional Currency, the amount of the Term Loan in that Optional Currency will be calculated by the Facility Agent as the amount of that Optional Currency equal to the Base Currency Amount of the Term Loan at the Agent’s Spot Rate of Exchange at the Specified Time;
(ii) if the currency for the second Interest Period is the Base Currency, the amount of the Term Loan will be equal to the Base Currency Amount;
(iii) (unless the Facility Agent and the Parent agree otherwise in accordance with paragraph (b) below) the Parent shall repay it on the last day of the first Interest Period in the currency in which it was denominated for that Interest Period; and
(iv) (subject to Clause 4.2 (Further Conditions Precedent)) the Lenders shall re-advance the Term Loan in the new currency in accordance with Clause 8.5 (Facility Agent’s calculations).
(b) If the Facility Agent and the Parent agree, the Facility Agent shall:
(i) apply the amount paid to it by the Lenders pursuant to paragraph (a)(iv) above (or so much of that amount as is necessary) in or towards purchase of an amount in the currency in which the Term Loan is outstanding for the first Interest Period; and
(ii) use the amount it purchases in or towards satisfaction of the Parent’s obligations under paragraph (a)(iii) above.
(c) If the amount purchased by the Facility Agent pursuant to paragraph (b)(i) above is less than the amount required to be repaid by the Parent, the Facility Agent shall promptly notify the Parent and the Parent shall, on the last day of the first Interest Period, pay an amount to the Facility Agent (in the currency of the outstanding Term Loan for the first Interest Period) equal to the difference.
(d) If any part of the amount paid to the Facility Agent by the Lenders pursuant to paragraph (a)(iv) above is not needed to purchase the amount required to be repaid by the Parent, the Facility Agent shall promptly notify the Parent and pay the Parent on the last day of the first Interest Period that part of that amount (in the new currency).
Facility Agent’s calculations. Each Lender's participation in a Loan will be determined in accordance with paragraph (b) of Clause 5.4 (LENDERS' PARTICIPATION).