Common use of LIBOR Breakage Fee Clause in Contracts

LIBOR Breakage Fee. Upon: (i) any default by Borrower in making any borrowing of, conversion into or continuation of any LIBOR Rate Loan following Borrower’s delivery of a borrowing request or continuation/conversion notice hereunder or (ii) any prepayment of a LIBOR Rate Loan on any day that is not the last day of the relevant LIBOR Interest Period (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), the Borrower shall pay an amount (“LIBOR Breakage Fee”), as customarily calculated by the Bank, equal to the amount of any losses, expenses and liabilities (including without limitation any loss of margin and anticipated profits) that Bank may sustain as a result of such default or payment. The Borrower understands, agrees and acknowledges that: (i) the Bank does not have any obligation to purchase, sell and/or match funds in connection with the use of the LIBOR Rate as a basis for calculating the rate of interest on a LIBOR Rate Loan, (ii) the LIBOR Rate may be used merely as a reference in determining such rate, and (iii) the Borrower has accepted the LIBOR Rate as a reasonable and fair basis for calculating the LIBOR Breakage Fee and other funding losses incurred by the Bank. Xxxxxxxx further agrees to pay the LIBOR Breakage Fee and other funding losses, if any, whether or not the Bank elects to purchase, sell and/or match funds.

LIBOR Breakage Fee. Upon: (i) any default by Borrower the Company in making any borrowing of, conversion into or continuation of any LIBOR Rate Loan following Borrowerthe Company’s delivery of a borrowing request or continuation/conversion notice hereunder or (ii) any prepayment of a LIBOR Rate Loan on any day that is not the last day of the relevant LIBOR Interest Period (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), the Borrower Company shall pay an amount (“LIBOR Breakage Fee”), as customarily calculated by the Bank, equal to the amount of any losses, expenses and liabilities (including without limitation any loss of margin and anticipated profits) that the Bank may sustain as a result of such default or payment. The Borrower Company understands, agrees and acknowledges that: (i) the Bank does not have any obligation to purchase, sell and/or match funds in connection with the use of the LIBOR Rate as a basis for calculating the rate of interest on a LIBOR Rate Loan, (ii) the LIBOR Rate may be used merely as a reference in determining such rate, and (iii) the Borrower Company has accepted the LIBOR Rate as a reasonable and fair basis for calculating the LIBOR Breakage Fee and other funding losses incurred by the Bank. Xxxxxxxx The Company further agrees to pay the LIBOR Breakage Fee and other funding losses, if any, whether or not the Bank elects to purchase, sell and/or match funds.

LIBOR Breakage Fee. Upon: (i) any default by Borrower the Borrowers in making any borrowing of, conversion into or continuation of any LIBOR Rate Loan following the Administrative Borrower’s delivery of a borrowing request or continuation/conversion notice hereunder or (ii) any prepayment of a LIBOR Rate Loan on any day that is not the last day of the relevant LIBOR Interest Period (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), the Borrower Borrowers shall pay an amount (“LIBOR Breakage Fee”), as customarily calculated by the BankLender, equal to the amount of any losses, expenses and liabilities (including without limitation any loss of margin and anticipated profits) that Bank Lender may sustain as a result of such default or payment. The Borrower understandsBorrowers understand, agrees agree and acknowledges acknowledge that: (i) the Bank Lender does not have any obligation to purchase, sell and/or match funds in connection with the use of the LIBOR Rate as a basis for calculating the rate of interest on a LIBOR Rate Loan, (ii) the LIBOR Rate may be used merely as a reference in determining such rate, and (iii) the Borrower has Borrowers have accepted the LIBOR Rate as a reasonable and fair basis for calculating the LIBOR Breakage Fee and other funding losses incurred by the BankLender. Xxxxxxxx The Borrowers further agrees agree to pay the LIBOR Breakage Fee and other funding losses, if any, whether or not the Bank Lender elects to purchase, sell and/or match funds.

LIBOR Breakage Fee. Upon: (i) any default Event of Default by any Borrower in making any borrowing of, conversion into or continuation of any LIBOR Rate Loan following Borrower’s any Borrowers’ delivery of a borrowing request or continuation/conversion notice hereunder or (ii) any prepayment of a LIBOR Rate Loan on any day that is not the last day of the relevant LIBOR Interest Period (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), the Borrower Borrowers shall pay an amount (“LIBOR Breakage Fee”), as customarily calculated by the BankAgent, equal to the amount of any losses, expenses and liabilities (including without limitation any loss of margin and anticipated profits) that Bank Agent may sustain as a result of such default or payment. The Borrower understandsBorrowers understand, agrees agree and acknowledges acknowledge that: (i) the Bank Agent does not have any obligation to purchase, sell and/or match funds in connection with the use of the LIBOR Rate as a basis for calculating the rate of interest on a LIBOR Rate Loan, (ii) the LIBOR Rate may be used merely as a reference in determining such rate, and (iii) the Borrower has Borrowers have accepted the LIBOR Rate as a reasonable and fair basis for calculating the LIBOR Breakage Fee and other funding losses incurred by the BankAgent and each Lender. Xxxxxxxx Borrowers further agrees agree to pay the LIBOR Breakage Fee and other funding losses, if any, whether or not the Bank Agent elects to purchase, sell and/or match funds.

LIBOR Breakage Fee. Upon: (i) any default by Borrower in making any borrowing of, conversion into or continuation of any LIBOR Rate Loan following Borrower’s delivery of a borrowing request or continuation/conversion notice hereunder or (ii) any prepayment of a LIBOR Rate Loan on any day that is not the last day of the relevant LIBOR Interest Period (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), the Borrower shall pay an amount (“LIBOR Breakage Fee”), as customarily calculated by the BankLender, equal to the amount of any losses, expenses and liabilities (including without limitation any loss of margin and anticipated profits) that Bank Lender may sustain as a result of such default or payment. The Borrower understands, agrees and acknowledges that: (i) the Bank Lender does not have any obligation to purchase, sell and/or match funds in connection with the use of the LIBOR Rate as a basis for calculating the rate of interest on a LIBOR Rate Loan, (ii) the LIBOR Rate may be used merely as a reference in determining such rate, and (iii) the Borrower has accepted the LIBOR Rate as a reasonable and fair basis for calculating the LIBOR Breakage Fee and other funding losses incurred by the BankLender. Xxxxxxxx Borrower further agrees to pay the LIBOR Breakage Fee and other funding losses, if any, whether or not the Bank Lender elects to purchase, sell and/or match funds.

LIBOR Breakage Fee. Upon: (i) any default by Borrower Borrowers in making any borrowing of, conversion into or continuation of any LIBOR Rate Loan following Borrower’s Borrowers’ delivery of a borrowing request or continuation/conversion notice hereunder or (ii) any prepayment of a LIBOR Rate Loan on any day that is not the last day of the relevant LIBOR Interest Period (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), the Borrower Borrowers shall pay an amount (“LIBOR Breakage Fee”), as customarily calculated by the BankLender, equal to the amount of any losses, expenses and liabilities (including without limitation any loss of margin and anticipated profits) that Bank Lender may sustain as a result of such default or payment. The Borrower understandsBorrowers understand, agrees agree and acknowledges acknowledge that: (i) the Bank Lender does not have any obligation to purchase, sell and/or match funds in connection with the use of the LIBOR Rate as a basis for calculating the rate of interest on a LIBOR Rate Loan, (ii) the LIBOR Rate may be used merely as a reference in determining such rate, and (iii) the Borrower has Borrowers have accepted the LIBOR Rate as a reasonable and fair basis for calculating the LIBOR Breakage Fee and other funding losses incurred by the BankLender. Xxxxxxxx Borrowers further agrees agree to pay the LIBOR Breakage Fee and other funding losses, if any, whether or not the Bank Lender elects to purchase, sell and/or match funds.