MANDATORY COST FORMULAE. The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.
MANDATORY COST FORMULAE. The Mandatory Cost (to the extent applicable) is an addition to the interest rate to compensate Lenders for the cost of compliance with:
MANDATORY COST FORMULAE. 1. The Mandatory Cost (to the extent applicable) is an addition to the interest rate to compensate Lenders for the cost of compliance with:
(a) the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions); or
(b) the requirements of the European Central Bank.
2. On the first day of each Interest Period (or as soon as practicable thereafter) the Administrative Agent shall calculate, as a percentage rate, a rate (the “Additional Cost Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Administrative Agent as a weighted average of the Lenders’ Additional Cost Rates (weighted in proportion to the percentage participation of each Lender in the relevant Loan) and will be expressed as a percentage rate per annum. The Administrative Agent will, at the request of the Company or any Lender, deliver to the Company or such Lender as the case may be, a statement setting forth the calculation of any Mandatory Cost.
3. The Additional Cost Rate for any Lender lending from a Lending Office in a Participating Member State will be the percentage notified by that Lender to the Administrative Agent. This percentage will be certified by such Lender in its notice to the Administrative Agent as the cost (expressed as a percentage of such Lender’s participation in all Loans made from such Lending Office) of complying with the minimum reserve requirements of the European Central Bank in respect of Loans made from that Lending Office.
4. The Additional Cost Rate for any Lender lending from a Lending Office in the United Kingdom will be calculated by the Administrative Agent as follows:
(a) in relation to any Loan in Sterling: AB+C(B-D)+E x 0.01 per cent per annum 100-(A+C)
(b) in relation to any Loan in any currency other than Sterling:
MANDATORY COST FORMULAE. The Mandatory Cost for an Advance (other than a Swingline Advance) is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.
MANDATORY COST FORMULAE. 1. The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Financial Conduct Authority (“FCA”) and the Prudential Regulation Authority (“PRA”) (or any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.
2. On the first day of each Interest Period (or as soon as possible thereafter) the Agent shall calculate, as a percentage rate, a rate (the “Additional Cost Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Agent as a weighted average of the Lenders’ Additional Cost Rates (weighted in proportion to the percentage participation of each Lender in the relevant Loan) and will be expressed as a percentage rate per annum.
3. The Additional Cost Rate for any Lender lending from a Facility Office in a Participating Member State will be the percentage notified by that Lender to the Agent. This percentage will be certified by that Lender in its notice to the Agent to be its reasonable determination of the cost (expressed as a percentage of that Lender’s participation in all Loans made from that Facility Office) of complying with the minimum reserve requirements of the European Central Bank in respect of loans made from that Facility Office.
4. The Additional Cost Rate for any Lender lending from a Facility Office in the United Kingdom will be calculated by the Agent as follows: E x 0.01 300 per cent. per annum. Where:
MANDATORY COST FORMULAE. The Mandatory Cost (to the extent applicable) is an addition to the interest rate to compensate U.S. Lenders for the cost of compliance with:
MANDATORY COST FORMULAE. 2.01 Commitments and Applicable Percentages
MANDATORY COST FORMULAE. On the first day of each Interest Period (or as soon as practicable thereafter), each Lender entitled to payment of additional interest under Section 10.1(b)(ii) of the Credit Agreement shall calculate the amount of such additional interest, expressed as a percentage rate per annum for such Lender, in accordance with the paragraphs set out below (the “Additional Cost Rate”).
MANDATORY COST FORMULAE. (a) Applicable Rate 1.01(b) Existing Letters of Credit
2.01 Commitments and Applicable Percentages
MANDATORY COST FORMULAE. Pursuant to Section 2.06(i) of this Agreement, unreimbursed LC Disbursements made in an LC Alternative Currency bear interest at a rate per annum equal to the Overnight LIBO Rate plus the Overnight LIBO Spread as set forth in the definition of “Applicable Rate”. Such interest accrues for the account of the Issuing Bank, except that interest accrued on or after the date of payment by any Lender pursuant to Section 2.06(e) of this Agreement to reimburse the Issuing Bank shall be or the account of such Lender to the extent of such payment. The Mandatory Cost is an addition to the Overnight LIBO Rate to compensate the Issuing Banks and the Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the United Kingdom’s Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank. For purposes of paragraphs 2 through 13 of this Schedule 1.01, each Issuing Bank issuing a Letter of Credit in an LC Alternative Currency shall be deemed to be a “Lender” and each LC Disbursement by any Issuing Bank in an LC Alternative Currency and each reimbursement by any Lender to the Issuing Bank in respect of any such LC Disbursement shall be deemed to be a “Loan” or “loan” by such Issuing Bank or such Lender, as applicable.
