Mandatory Costs Rate. 1. The Mandatory Costs Rate 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.
Appears in 10 contracts
Samples: Subsidiary Guaranty Agreement (Transocean Ltd.), Credit Agreement (Landstar System Inc), Lease Agreement (Compass Minerals International Inc)
Mandatory Costs Rate. 1. The Mandatory Costs Rate Cost is an addition to the interest rate on each Eurocurrency Loan 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.
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Samples: Revolving Credit Agreement (Noble Corp / Switzerland)
