Common use of Indemnification for Break Funding Losses Clause in Contracts

Indemnification for Break Funding Losses. The Borrower shall compensate each Credit Party for any loss (other than lost profit) or expense (including, without limitation, any loss or expense arising from re-employment of funds obtained by such Credit Party in order to make or maintain a Eurodollar Advance or from any payment by such Credit Party to the lenders of such funds) which such Credit Party may sustain or incur in the event that (i) the Borrower fails to pay when due the principal amount of or interest on any Eurodollar Advance, (ii) the Borrower fails to make a borrowing of, conversion into or continuation of a Eurodollar Advance after the Borrower has given a notice requesting the same, (iii) the Borrower fails to make any prepayment of a Eurodollar Advance after the Borrower has given a notice thereof, (iv) any payment of a Eurodollar Advance is made on any day other than a scheduled payment date therefor or the last day of an Interest Period with respect thereto (including any mandatory prepayment or a prepayment resulting from acceleration or illegality), or (v) a Eurodollar Advance is automatically converted to an ABR Loan on any other day other than the last day of the Interest Period with respect thereto. Such compensation may include an amount equal to the excess, if any, of (i) the amount of interest (excluding any margin included therein) which would have accrued on the amount so paid, prepaid or converted, or not so borrowed, prepaid, converted or continued, for the period from the date of such payment, prepayment or conversion or of such failure to borrow, prepay, convert or continue to the last day of such Interest Period (or, in the case of a failure to borrow, prepay, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the Eurodollar Rate which is applicable or would have been applicable to such Eurodollar Advance over (ii) the amount of interest (as reasonably determined by the Bank) which would have accrued on such amount by placing such amount on deposit for a comparable period with leading banks in the London interbank eurodollar market. A statement setting forth the calculations of any amounts payable pursuant to this Section submitted by a Credit Party to the Borrower shall be conclusive and binding on the Borrower absent manifest error. The obligations of the Borrower under this Section shall survive the termination of this Agreement and the Commitments and the payment of the Notes and all other amounts payable under the Loan Documents. Failure to demand compensation pursuant to this Section shall not constitute a waiver of such Credit Party's right to demand such compensation.

Indemnification for Break Funding Losses. The Borrower shall compensate each Credit Party for any loss (other than lost profit) or expense (including, without limitation, any loss or expense arising from re-employment of funds obtained by such Credit Party in order to make or maintain a Eurodollar Advance or from any payment by such Credit Party to the lenders of such funds) which such Credit Party may sustain or incur in the event that (i) the Borrower fails to pay when due the principal amount of or interest on any Eurodollar Advance, (ii) the Borrower fails to make a borrowing of, conversion into or continuation of a Eurodollar Advance after the Borrower has given a notice requesting the same, (iii) the Borrower fails to make any prepayment of a Eurodollar Advance after the Borrower has given a notice thereof, (iv) any payment of a Eurodollar Advance is made on any day other than a scheduled payment date therefor or the last day of an Interest Period with respect thereto (including any mandatory prepayment or a prepayment resulting from acceleration or illegality), or (v) a Eurodollar Advance is automatically converted to an ABR Loan on any other day other than the last day of the Interest Period with respect thereto. Such compensation may include an amount equal to the excess, if any, of (i) the amount of interest (excluding any margin included therein) which would have accrued on the amount so paid, prepaid or converted, or not so borrowed, prepaid, converted or continued, for the period from the date of such payment, prepayment or conversion or of such failure to borrow, prepay, convert or continue to the last day of such Interest Period (or, in the case of a failure to borrow, prepay, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the Eurodollar Rate which is applicable or would have been applicable to such Eurodollar Advance over (ii) the amount of interest (as reasonably determined by the Bank) which would have accrued on such amount by placing such amount on deposit for a comparable period with leading banks in the London interbank eurodollar market. A statement setting forth the calculations of any amounts payable pursuant to this Section submitted by a Credit Party to the Borrower shall be conclusive and binding on the Borrower absent manifest error. The obligations of the Borrower under this Section shall survive the termination of this Agreement and the Commitments and the payment of the Notes and all other amounts payable under the Loan Documents. Failure to demand compensation pursuant to this Section shall not constitute a waiver of such Credit Party's ’s right to demand such compensation.

Indemnification for Break Funding Losses. The Borrower shall compensate each Credit Party for any loss (other than lost profit) or expense (including, without limitation, any loss or expense arising from re-employment of funds obtained by such Credit Party in order to make or maintain a Eurodollar EurodollarSOFR Advance or from any payment by such Credit Party to the lenders of such funds) which such Credit Party may sustain or incur in the event that (i) the Borrower fails to pay when due the principal amount of or interest on any Eurodollar EurodollarSOFR Advance, (ii) the Borrower fails to make a borrowing of, conversion into or continuation of a Eurodollar EurodollarSOFR Advance after the Borrower has given a notice requesting the same, (iii) the Borrower fails to make any prepayment of a Eurodollar EurodollarSOFR Advance after the Borrower has given a notice thereof, (iv) any payment of a Eurodollar EurodollarSOFR Advance is made on any day other than a scheduled payment date therefor or the last day of an Interest Period with respect thereto (including any mandatory prepayment or a prepayment resulting from acceleration or illegality), or (v) a Eurodollar EurodollarSOFR Advance is automatically converted to an ABR Loan LoanAdvance on any other day other than the last day of the Interest Period with respect thereto. Such compensation may include an amount equal to the excess, if any, of (i) the amount of interest (excluding any margin included therein) which would have accrued on the amount so paid, prepaid or converted, or not so borrowed, prepaid, converted or continued, for the period from the date of such payment, prepayment or conversion or of such failure to borrow, prepay, convert or continue to the last day of such Interest Period (or, in the case of a failure to borrow, prepay, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the Eurodollar Rate RateAdjusted Term SOFR which is applicable or would have been applicable to such Eurodollar EurodollarSOFR Advance over (ii) the amount of interest (as reasonably determined by the Bank) which would have accrued on such amount by placing such amount on deposit for a comparable period with leading banks in the London interbank eurodollar market. A statement setting forth the calculations of any amounts payable pursuant to this Section submitted by a Credit Party to the Borrower shall be conclusive and binding on the Borrower absent manifest error. The obligations of the Borrower under this Section shall survive the termination of this Agreement and the Commitments and the payment of the Notes and all other amounts payable under the Loan Documents. Failure to demand compensation pursuant to this Section shall not constitute a waiver of such Credit Party's ’s right to demand such compensation.