Common use of Notional Funding Clause in Contracts

Notional Funding. Each Bank shall have the right from time to time, prospectively or retrospectively, without notice to the Borrowers, to deem any branch, subsidiary or affiliate of such Bank to have made, maintained or funded any part of the Euro-Rate Portion at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Bank shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii) hereof or would lessen compensation payable by a Borrower under Section 2.10(a) hereof, and if such Bank determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect on such part of the Loans, such Bank or any Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such Bank without regard to such Bank's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such Bank.

Appears in 3 contracts

Samples: Term Revolving Credit Agreement (Xl Capital LTD), Term Revolving Credit Agreement (Exel LTD), Revolving Credit Agreement (Exel LTD)

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Notional Funding. Each Bank Lender shall have the right from time to time, prospectively or retrospectively, without notice to the Borrowers, to deem any branch, subsidiary or affiliate of such Bank Lender to have made, maintained or funded any part of the Euro-Rate Portion at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." ". Such Bank Lender shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii) hereof or would lessen compensation payable by a Borrower the Borrowers under Section 2.10(a) hereof, and or if such Bank Lender determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect Material Adverse Effect on such part of the Loans, such Bank Lender or any Notional Euro-Rate Funding Office office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such Bank Lender without regard to such BankLender's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such BankLender.

Appears in 2 contracts

Samples: Guaranty and Suretyship Agreement (Curtiss Wright Corp), Guaranty and Suretyship Agreement (Curtiss Wright Corp)

Notional Funding. Each Bank Lender shall have the right from time to time, prospectively or retrospectively, without notice to the BorrowersBorrower, to deem any branch, subsidiary or affiliate of such Bank Lender to have made, maintained or funded any part of the Euro-Rate Portion at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Bank Lender shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii) hereof or would lessen compensation payable by a the Borrower under Section 2.10(a) hereof, and if such Bank Lender determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect Material Adverse Effect on such part of the Loans, such Bank Lender or any Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such Bank Lender without regard to such BankLender's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such BankLender.

Appears in 2 contracts

Samples: Credit Agreement (Black Box Corp), Term Credit Agreement (Black Box Corp)

Notional Funding. Each Bank Lender shall have the right from time to time, prospectively or retrospectively, without notice to the BorrowersBorrower, to deem any branch, subsidiary or affiliate of such Bank Lender to have made, maintained or funded any part of the Euro-Rate Portion at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Bank Lender shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii2.06(e)(ii) hereof or would lessen compensation payable by a the Borrower under Section 2.10(a2.13(a) hereof, and if such Bank Lender determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect on such part of the Loans, such Bank Lender or any Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such Bank Lender without regard to such BankLender's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such BankLender.

Appears in 2 contracts

Samples: Credit Agreement (Steel Dynamics Inc), Credit Agreement (Steel Dynamics Inc)

Notional Funding. Each Bank Lender shall have the right from time to time, prospectively or retrospectively, without notice to the BorrowersBorrower, to deem any branch, subsidiary or affiliate of such Bank Lender to have made, maintained or funded any part of the Euro-Rate Portion at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Officeoffice." Such Bank Lender shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii) hereof or would lessen compensation payable by a the Borrower under Section 2.10(a) hereof, and if such Bank Lender determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect Material Adverse Effect on such part of the Loans, such Bank Lender or any Notional Euro-Rate Funding Office office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such Bank Lender without regard to such BankLender's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such BankLender.

Appears in 2 contracts

Samples: Term Credit Agreement (Curtiss Wright Corp), Credit Agreement (Curtiss Wright Corp)

Notional Funding. Each Bank Lender shall have the right from time to time, prospectively or retrospectively, without notice to the BorrowersBorrower, to deem any branch, subsidiary or affiliate of such Bank Lender to have made, maintained or funded any part of the Euro-Rate Portion at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Bank Lender shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if (i) such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii2.3(f)(ii) hereof or would lessen compensation payable by a the Borrower under Section 2.10(a) hereof2.9(a), and if (ii) such Bank Lender determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect on such part of the Loans, such Bank Lender or any Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such Bank Lender without regard to such BankLender's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such BankLender.

Appears in 2 contracts

Samples: Term Loan Agreement (J&l Specialty Steel Inc), Credit Agreement (J&l Specialty Steel Inc)

Notional Funding. Each Bank shall have the right from time to time, prospectively or retrospectively, without notice to the BorrowersBorrower, to deem any branch, subsidiary or affiliate of such Bank to have made, maintained or funded any part of the Bank's Euro-Rate Portion Loans at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Each Bank shall deem any part of the its Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii2.05(e)(ii) hereof or would lessen compensation payable by a the Borrower under Section 2.10(a2.09(a) hereof, and if such Bank determines in its sole discretion that such transfer would be practicable and would not have a material an adverse effect on such part of the Bank or on such Loans, such Bank or any its Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the such Euro-Rate Portion Loan is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such each Bank respectively without regard to such each Bank's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such Bank.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Haemonetics Corp), Haemonetics Corp

Notional Funding. Each Bank shall have the right from time to time, prospectively or retrospectively, without notice to the Borrowersa Borrower, to deem any branch, subsidiary or affiliate of such Bank to have made, maintained or funded any part of the Euro-Rate Portion at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Bank shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii2.03(e)(ii) hereof or would lessen compensation payable by a the Borrower under Section 2.10(a2.13(a) hereof, and if such Bank determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect on such part of the Loans, such Bank or any Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such Bank without regard to such Bank's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such Bank.

Appears in 1 contract

Samples: Guaranty and Suretyship Agreement (Sylvan Inc)

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Notional Funding. Each Any Bank shall have the right from time to time, prospectively or retrospectively, without notice to the Borrowers, to deem any branch, subsidiary or affiliate of such Bank to have made, maintained or funded any part of the Euro-Rate Portion of the Loans at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Any Bank shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii2.05(d) hereof or would lessen any compensation or indemnity payable by a Borrower to such Bank under Section 2.10(a) 2.08 hereof, and if such Bank determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect on such part of the Loans, such Bank or any Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion of the Loans is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such each Bank without regard to such Bank's actual methods of making, maintaining or funding the Loans or any sources of funding actually used by or available to such Bank.

Appears in 1 contract

Samples: Loan Agreement (Foster L B Co)

Notional Funding. Each Bank shall have the right from time to time, prospectively or retrospectively, without notice to the Borrowersa Borrower, to deem any branch, subsidiary or affiliate of such Bank to have made, maintained or funded any part of the Euro-Rate Portion at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Bank shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii2A.3(e)(ii) hereof or would lessen compensation payable by a the Borrower under Section 2.10(a2A.11(a) hereof, and if such Bank determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect on such part of the Loans, such Bank or any Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such Bank without regard to such Bank's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such Bank.

Appears in 1 contract

Samples: Credit Agreement (Alleghany Corp /De)

Notional Funding. Each Any Bank shall have the right from time to time, prospectively or retrospectively, without notice to the BorrowersBorrower, to deem any branch, subsidiary or affiliate of such Bank to have made, maintained or funded any part of the Euro-Rate EuroRate Portion of the Loans at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate EuroRate Funding Office." Such Any Bank shall deem any part of the Euro-Rate EuroRate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate EuroRate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii2.05(e) hereof or would lessen any compensation or indemnity payable by a Borrower to such Bank under Section 2.10(a) 2.08 hereof, and if such Bank determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect on such part of the Loans, such Bank or any Notional Euro-Rate EuroRate Funding Office (it being assumed for purposes of such determination that each part of the Euro-Rate EuroRate Portion of the Loans is actually made or maintained by or funded through the corresponding Notional Euro-Rate EuroRate Funding Office). Notional Euro-Rate EuroRate Funding Offices may be selected by such each Bank without regard to such Bank's actual methods of making, maintaining or funding the Loans or any sources of funding actually used by or available to such Bank.

Appears in 1 contract

Samples: Loan Agreement (Foster L B Co)

Notional Funding. Each Bank shall have the right from time to time, prospectively or retrospectively, without notice to the BorrowersBorrower, to deem any branch, subsidiary or affiliate of such Bank to have made, maintained or funded any part of the Bank's Euro-Rate Portion Loans at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Each Bank shall deem any part of the its Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii2.05(e)(ii) hereof or would lessen compensation payable by a the Borrower under Section 2.10(a2.09(a) hereof, and if such Bank determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect Material Adverse Effect on such part of the Loans, such Bank or any its Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the such Euro-Rate Portion Loan is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such each Bank respectively without regard to such each Bank's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such Bank.

Appears in 1 contract

Samples: Revolving Credit Agreement (Haemonetics Corp)

Notional Funding. Each Bank shall have the right from time to time, prospectively or retrospectively, without notice to the Borrowersa Borrower, to deem any branch, subsidiary or affiliate of such Bank to have made, maintained or funded any part of the Euro-Rate Portion at any time. Any branch, subsidiary or affiliate so deemed shall be known as a "Notional Euro-Rate Funding Office." Such Bank shall deem any part of the Euro-Rate Portion of the Loans or the funding therefor to have been transferred to a different Notional Euro-Rate Funding Office if such transfer would avoid or cure an event or condition described in Section 2.04(e)(ii3.03(e)(ii) hereof or would lessen compensation payable by a Borrower the Borrowers under Section 2.10(a3.11(a) hereof, and if such Bank determines in its sole discretion that such transfer would be practicable and would not have a material adverse effect on such part of the Loans, such Bank or any Notional Euro-Rate Funding Office (it being assumed for purposes of such determination that each part of the Euro-Rate Portion is actually made or maintained by or funded through the corresponding Notional Euro-Rate Funding Office). Notional Euro-Rate Funding Offices may be selected by such Bank without regard to such Bank's actual methods of making, maintaining or funding Loans or any sources of funding actually used by or available to such Bank.

Appears in 1 contract

Samples: Credit Agreement (Alleghany Corp /De)

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