Common use of Funding Sources, Payment Obligations Clause in Contracts

Funding Sources, Payment Obligations. Notwithstanding any provision of this Agreement to the contrary, each Lender shall be entitled to fund and maintain its funding of all or any part of the Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if each Lender had actually funded and maintained each LIBOR Borrowing or Competitive Bid Loan during each Interest Period through the purchase of deposits having a maturity corresponding to such Interest Period and bearing an interest rate equal to the LIBOR for such Interest Period. Notwithstanding the foregoing, Funding Losses, increased costs and other obligations relating to LIBOR Borrowings or Competitive Bid Loans described in Section 3.5 of this Agreement will only be paid by the Borrower as and when they are actually incurred or as and when they would have been incurred by the Lenders.

Funding Sources, Payment Obligations. Notwithstanding any provision of this Agreement to the contrary, each Lender shall be entitled to fund and maintain its funding of all or any part of the Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if each Lender had actually funded and maintained each LIBOR Borrowing or Competitive Bid Loan during each LIBOR Interest Period through the purchase of deposits having a maturity corresponding to such LIBOR Interest Period and bearing an interest rate equal to the LIBOR for such LIBOR Interest Period. Notwithstanding the foregoing, Funding Losses, increased costs and other obligations relating to LIBOR Borrowings or Competitive Bid Loans described in Section 3.5 of this Agreement will only be paid by the Borrower as and when they are actually incurred or as and when they would have been incurred by the Lenders.