Form of Excess Credit Arrangement. The Excess Credit arrangement to be made available by the Bank to Borrowers pursuant to Sub-clause 9.1 shall take the form of either:
(a) a loan interest offset arrangement; or
(b) a banking account.
Form of Excess Credit Arrangement Sample Clauses
Related to Form of Excess Credit Arrangement
Refund of Excess Cash If at any time the credit balance of Timber Sale Account exceeds the charges for timber that Forest Service estimates will be cut within the next 60 days, any portion of such excess that is due to cash in the account shall be refunded, if re- quested by Purchaser, unless deposited under B4.211,
Revolving Credit Agreement The Agent shall have received this Agreement duly executed and delivered by each of the Banks and the Company and each of the Banks shall have received a fully executed Committed Note and a fully executed Bid Note, if such Notes are requested by any Bank pursuant to Section 12.9.
Cash Collateral, Repayment of Swing Line Loans If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, (x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lenders’ Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 2.15.
Compensating Balance Arrangement The Funds and The Bank of New York have entered into a compensating balance arrangement, which would allow the Funds to compensate the Bank for any overdrafts by maintaining a positive cash balance the next day. Conversely, on any day the Funds maintain a positive balance, they will be allowed to overdraw the account as compensation. In both cases, Federal Reserve requirements, currently 10%, will be assessed. Therefore, all overdrafts must be compensated at 100% of the total and all positive balances will allow for an overdraft of 90% of the total. Balances for the tax-exempt portfolios will be permitted an open-ended roll forward. The taxable portfolios are closed out on a quarterly basis with no carry-over to the subsequent quarter. At the end of each quarter, the average overdraft will be assessed a fee of 1% above the actual Federal Funds rate at the end of the period. Any average positive balance will receive an earnings credit computed at the daily effective 90 day T-bill rate minus 0.25 bps on the last day of the period. Earnings credits will be offset against the Funds’ safekeeping fees. GLOBAL CUSTODY (Non-US Securities Processing) Global Safekeeping Fee Transaction Fee Countries *(in basis points)1 (U.S. Dollars)2 Argentina 17.00 55 Australia 1.50 25 Austria 3.00 40 Bahrain 50.00 140 Bangladesh 50.00 145 Belgium 2.50 35 Bermuda 17.00 70 Botswana 50.00 140 Brazil 12.00 30 Bulgaria 30.00 85 Canada 1.00 10 Chile 20.00 80 China “A” Shares 15.00 80 China “B” Shares 15.00 60 Colombia 50.00 95 Costa Rica 14.00 65 Croatia 25.00 70 Cyprus 15.00 35 Czech Republic 18.00 50 Denmark 2.00 35 Ecuador 30.00 55 Egypt 30.00 85 Estonia 10.00 60 Euromarket/Euroclear3 1.00 10 Euromarket/Clearstream 1.00 10 Finland 3.50 35 France 2.00 30 Germany 1.50 25 Ghana 50.00 140 Greece 9.00 40 Hong Kong 3.00 45 Hungary 20.00 55 Iceland 11.00 35 India 13.00 105 Indonesia 11.00 80 Ireland (Equities) 3.00 33 Ireland (Gov’t Bonds) 1.00 13 Israel 20.00 40 Italy 1.50 35 Ivory Coast 50.00 140 Jamaica 50.00 60 Japan 1.75 20 Jordan 50.00 140 Kazakhstan 53.00 140 Kenya 48.00 140 Latvia 50.00 45 Lebanon 50.00 140 Lithuania 20.00 43 Luxembourg 10.00 80 Malaysia 4.50 45 Malta 20.00 63 Mauritius 25.00 100 Mexico 6.50 30 Morocco 50.00 95 Namibia 50.00 60 Netherlands 2.00 25 New Zealand 2.00 35 Nigeria 50.00 60 Norway 2.50 35 Oman 50.00 140 Pakistan 50.00 140 Peru 50.00 83 Philippines 6.00 60 Poland 15.00 63 Portugal 5.00 50 Qatar 50.00 140 Romania 30.00 80 Russia Equities 40.00 95 Singapore 3.50 45 Slovak Republic 23.00 95 Slovenia 50.00 60 South Africa 2.50 30 South Korea 6.50 45 Spain 2.50 40 Sri Lanka 13.00 70 Swaziland 50.00 60 Sweden 2.00 30 Switzerland 2.00 35 Taiwan 10.00 60 Thailand 5.00 50 Trinidad & Tobago 50.00 53 Tunisia 50.00 53 Turkey 12.50 60 Ukraine 75.00 250 United Kingdom 0.50 10 Uruguay 75.00 83 Venezuela 50.00 140 Zambia 50.00 140 Zimbabwe 50.00 140 Not In Bank/Not in Custody Assets USA4………………………$500 per line per annum $70 per non-USD currency movement Brazil - 15 basis points for annual administrative charges Colombia - USD $600 per month minimum administration charge Ecuador - USD $800 monthly minimum per relationship Egypt - USD $400 monthly minimum per relationship Local taxes, stamp duties or other assessments, including stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other unusual expenses, which are unique to a country in which the Funds are investing This Amendment (the “Amendment”) dated as of November 8, 2007 between The Bank of New York (“Custodian”) and the Funds listed on Schedule II to the Custody Agreement, as amended by Exhibit A attached hereto (each a “Fund”).
Cash Collateral, Repayment of Swingline Loans If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (y) second, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures set forth in Section 3.10.
Cash Collateral for Letters of Credit If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, the Administrative Agent may, and upon request of Required Revolving Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of the Loans and other obligations hereunder pursuant to Section 7.2), and the Borrower shall thereupon deliver to the Administrative Agent, to be held for the benefit of the L/C Issuer, the Agents and the Lenders entitled thereto, an amount of cash equal to 105% of the amount of Letter of Credit Obligations as additional collateral security for Obligations in respect of any outstanding Letter of Credit. The Administrative Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties’ Obligations in respect of any Letters of Credit. Pending such application, the Administrative Agent may (but shall not be obligated to) invest the same in an interest bearing account in the Administrative Agent’s name, for the benefit of the L/C Issuers, the Agents and the Lenders entitled thereto, under which deposits are available for immediate withdrawal, at such bank or financial institution as the L/C Issuer and the Administrative Agent may, in their discretion, select.
Agreement to Make Swingline Loans Subject to the terms and conditions set forth herein, each Swingline Lender severally agrees to make Swingline Loans under each Revolving Commitment of such Swingline Lender to the Borrower from time to time during the Availability Period, in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $50,000,000 or any Swingline Lender’s outstanding Swingline Loans exceeding the amount set forth opposite the name of such Swingline Lender on Schedule IX, (ii) the sum of any Swingline Lender’s outstanding Dollar Loans, its Dollar LC Exposure and its outstanding Swingline Loans exceeding its Dollar Commitment, (iii) the sum of any Swingline Lender’s outstanding Multicurrency Loans, its Multicurrency LC Exposure and its outstanding Swingline Loans exceeding its Multicurrency Commitment, (iv) the total Revolving Dollar Credit Exposures exceeding the aggregate Dollar Commitments, (v) the total Revolving Multicurrency Credit Exposures exceeding the aggregate Multicurrency Commitments or (vi) the total Covered Debt Amount exceeding the Borrowing Base then in effect; provided that no Swingline Lender shall be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, repay, prepay and reborrow Swingline Loans.
Interest for Account of Swingline Lender The Swingline Lender shall be responsible for invoicing the Borrower for interest on the Swingline Loans. Until each Revolving Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving Lender’s Applicable Revolving Percentage of any Swingline Loan, interest in respect of such Applicable Revolving Percentage shall be solely for the account of the Swingline Lender.
Interest for Account of Swing Line Lender The Swing Line Lender shall be responsible for invoicing the Borrower for interest on the Swing Line Loans. Until each Lender funds its Base Rate Committed Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swing Line Lender.
Repayment of Excess Advances The aggregate balance of Advances outstanding at any time in excess of the maximum amount of Advances permitted hereunder shall be immediately due and payable without the necessity of any demand, at the Payment Office, whether or not a Default or Event of Default has occurred.
