Common use of LIBOR Breakage Costs and Fees Clause in Contracts

LIBOR Breakage Costs and Fees. In the event that the Companies (i) pay all or any part of the principal amount of a LIBOR Loan on a date prior to the last day of an Interest Period for such LIBOR Loan, (ii) fail to borrow a LIBOR Loan, or fail to convert a Chase Bank Rate Loan to a LIBOR Loan, on the date for such borrowing or conversion specified in the relevant request to the Agent, or (iii) fail to pay to the Agent the principal of, or interest on, any LIBOR Loan when due, the Companies agree to pay to the Agent and each Lender (without duplication), on demand, (y) such amount as shall compensate the Agent or any Lender for any actual loss, cost or expense that the Agent or any Lender may sustain or incur as a result of such event (including, without limitation, any interest or fees payable by the Agent or any Lender to lenders or depositors of funds obtained by the Agent or any Lender in order to make or maintain any LIBOR Loans under this Financing Agreement), and (z) in the case of a prepayment of any LIBOR Loan, the excess (if any) of the amount of interest that would have accrued on such loan from the first day of the Interest Period to the date of prepayment, assuming that such loan was a Chase Bank Rate Loan, over the amount of interest that actually accrued on such loan from the first day of the Interest Period to the date of prepayment. The determination by the Agent or any Lender of the amount of any such loss, cost or expense described in clause (y) of the preceding sentence, when set forth in a written notice to the Companies containing the Agent’s or any Lender’s calculations thereof in reasonable detail, shall be conclusive and binding upon the Companies, in the absence of manifest error.

LIBOR Breakage Costs and Fees. In the event that the Companies any Company (i) pay pays all or any part of the principal amount of a LIBOR Loan on a date prior to the last day of an Interest Period for such LIBOR Loan, (ii) fail fails to borrow a LIBOR Loan, or fail fails to convert a Chase Bank Rate Loan to a LIBOR Loan, on the date for such borrowing or conversion specified in the relevant request to the Agent, or (iii) fail fails to pay to the Agent the principal of, or interest on, any LIBOR Loan when due, the Companies jointly and severally agree to pay to the Agent and each Lender (without duplication), on demand, the greater of (x) $500, (y) such amount as shall compensate the Agent or any Lender for any actual loss, cost or expense that the Agent or any Lender may sustain or incur as a result of such event (including, without limitation, any interest or fees payable by the Agent or any Lender to lenders or depositors of funds obtained by the Agent or any Lender in order to make or maintain any LIBOR Loans under this Financing Agreement), and (z) in the case of a prepayment of any LIBOR Loan, the excess (if any) of the amount of interest that would have accrued on such loan from the first day of the Interest Period to the date of prepayment, assuming that such loan was a Chase Bank Rate Loan, over the amount of interest that actually accrued on such loan from the first day of the Interest Period to the date of prepayment. The determination by the Agent or any Lender of the amount of any such loss, cost or expense described in clause (y) of the preceding sentence, when set forth in a written notice to the Companies Borrowing Agent containing the Agent’s 's or any Lender’s 's calculations thereof in reasonable detail, shall be conclusive and binding upon the Companieseach Company, in the absence of manifest error.

LIBOR Breakage Costs and Fees. In the event that the Companies Borrowers (i) pay all or any part of the principal amount of a LIBOR Loan on a date prior to the last day of an Interest Period the month for which such LIBOR LoanLoan was elected, (ii) fail to borrow a LIBOR Loan, or fail to convert a Chase Bank Rate Loan to a LIBOR Loan, on the date for such borrowing or conversion specified in the relevant request to the Agent, or (iii) fail to pay to the Agent the principal of, or interest on, any LIBOR Loan when due, the Companies Borrowers agree to pay to the Agent and each Lender (without duplication), on demand, (y) such amount as shall compensate the Agent or any Lender for any actual loss, cost or expense that the Agent or any Lender may sustain or incur as a result of such event (including, without limitation, any interest or fees payable by the Agent or any Lender to lenders or depositors of funds obtained by the Agent or any Lender in order to make or maintain any LIBOR Loans under this Financing Agreement), and (z) in the case of a prepayment of any LIBOR Loan, the excess (if any) of the amount of interest that would have accrued on such loan from the first day of the Interest Period applicable month to the date of prepayment, assuming that such loan was a Chase Bank Rate Loan, over the amount of interest that actually accrued on such loan from the first day of the Interest Period such month to the date of prepayment. The determination by the Agent or any Lender of the amount of any such loss, cost or expense described in clause (y) of the preceding sentence, when set forth in a written notice to the Companies Borrowers containing the Agent’s or any Lender’s calculations thereof in reasonable detail, shall be conclusive and binding upon the Companies, in the absence constitute prima facie evidence of manifest errorsuch amount.

LIBOR Breakage Costs and Fees. In the event that the Companies Company (i) pay pays all or any part of the principal amount of a LIBOR Loan on a date prior to the last day of an Interest Period for such LIBOR Loan, (ii) fail fails to borrow a LIBOR Loan, or fail fails to convert a Chase Bank Rate Loan to a LIBOR Loan, on the date for such borrowing or conversion specified in the relevant request to the Agent, or (iii) fail fails to pay to the Agent the principal of, or interest on, any LIBOR Loan when due, the Companies agree Company agrees to pay to the Agent and each Lender (without duplication), on demand, the greater of (x) Five Hundred Dollars ($500), (y) such amount as shall compensate the Agent or any Lender for any actual loss, cost or expense that the Agent or any Lender may sustain or incur as a result of such event (including, without limitation, any interest or fees payable by the Agent or any Lender to lenders or depositors of funds obtained by the Agent or any Lender in order to make or maintain any LIBOR Loans under this Financing Agreement), and (z) in the case of a prepayment of any LIBOR Loan, the excess (if any) of the amount of interest that would have accrued on such loan from the first day of the Interest Period to the date of prepayment, assuming that such loan was a Chase Bank Rate Loan, over the amount of interest that actually accrued on such loan from the first day of the Interest Period to the date of prepayment. The determination by the Agent or any Lender of the amount of any such loss, cost or expense described in clause (y) of the preceding sentence, when set forth in a written notice certification to the Companies Company containing the Agent’s or any Lender’s calculations thereof in reasonable detail, shall be conclusive and binding upon the CompaniesCompany, in the absence of manifest error.

LIBOR Breakage Costs and Fees. In the event that the Companies Company (ia) pay pays all or any part of the principal amount of a LIBOR Loan on a date prior to the last day of an Interest Period for such LIBOR Loan, (iib) fail fails to borrow a LIBOR Loan, or fail fails to convert a Chase Bank Rate Loan to a LIBOR Loan, on the date for such borrowing or conversion specified in the relevant request to the Agent, or (iiic) fail fails to pay to the Agent the principal of, or interest on, any LIBOR Loan when due, the Companies agree Company agrees to pay to the Agent and each Lender (without duplication), on demand, (y) such amount as shall compensate reimburse the Agent or any Lender for any actual loss, cost or expense that the Agent or any Lender may sustain or incur as a result of such event (including, without limitation, any interest or fees payable by the Agent or any Lender to lenders or depositors of funds obtained by the Agent or any Lender in order to make or maintain any LIBOR Loans under this Financing Agreement), and (z) in the case of a prepayment of any LIBOR Loan, the excess (if any) of the amount of interest that would have accrued on such loan from the first day of the Interest Period to the date of prepayment, assuming that such loan was a Chase Bank Rate Loan, over the amount of interest that actually accrued on such loan from the first day of the Interest Period to the date of prepayment. The determination by the Agent or any Lender of the amount of any such loss, cost or expense described in clause (y) of the preceding sentence, when set forth in a written notice to the Companies Company containing the Agent’s or any Lender’s calculations thereof in reasonable detail, shall be conclusive and binding upon the CompaniesCompany, in the absence of manifest error. In no case shall the Agent or any Lender be entitled to any compensation from the Company pursuant to this Section 7.10 unless demand therefor is made within 180 days following the incidence of the loss, cost or expense giving rise to an obligation by the Company under this Section 7.10.