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Common use of Notional Funding Clause in Contracts

Notional Funding. Each Lender shall have the right from time to time, without notice to the Borrower, to deem any branch, Subsidiary or Affiliate (which for the purposes of this Section 11.5 [Funding by Branch, Subsidiary or Affiliate] shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls such Lender) of such Lender to have made, maintained or funded the Term Loan to which the LIBOR Rate Option applies at any time, provided that immediately following (on the assumption that a payment were then due from the Borrower to such other office), and as a result of such change, the Borrower would not be under any greater financial obligation pursuant to Section 5.6 [Additional Compensation in Certain Circumstances] or Section 5.8 [Taxes] than it would have been in the absence of such change. Notional funding offices may be selected by each Lender without regard to such Lender’s actual methods of making, maintaining or funding the Term Loan or any sources of funding actually used by or available to such Lender.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Term Loan Credit Agreement (New Jersey Resources Corp)

Notional Funding. Each Lender shall have the right from time to time, without notice to the Borrower, to deem any branch, Subsidiary or Affiliate (which for the purposes of this Section 11.5 [Funding by Branch, Subsidiary or Affiliate] shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls such Lender) of such Lender to have made, maintained or funded the Term any Loan to which the LIBOR Rate Option applies at any time, provided that immediately following (on the assumption that a payment were then due from the Borrower to such other office), and as a result of such change, the Borrower would not be under any greater financial obligation pursuant to Section 5.6 [Additional Compensation in Certain Circumstances] or Section 5.8 [Taxes] than it would have been in the absence of such change. Notional funding offices may be selected by each Lender without regard to such Lender’s actual methods of making, maintaining or funding the Term Loan Loans or any sources of funding actually used by or available to such Lender.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)

Notional Funding. Each Lender shall have the right from time to time, without notice to the Borrower, to deem any branch, Subsidiary or Affiliate (which for the purposes of this Section 11.5 [Funding by Branch, Subsidiary or Affiliate] shall mean means any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls such Lender) of such Lender to have made, maintained or funded the Term any Loan to which the LIBOR Rate Option applies at any time, provided that immediately following (on the assumption that a payment were then due from the Borrower to such other office), and as a result of such change, the Borrower would not be under any greater financial obligation pursuant to Section 5.6 [Additional Compensation in Certain Circumstances] or Section 5.8 [Taxes] than it would have been in the absence of such change. Notional funding offices may be selected by each Lender without regard to such Lender’s 's actual methods of making, maintaining or funding the Term Loan Loans or any sources of funding actually used by or available to such Lender.

Appears in 1 contract

Samples: Credit Agreement (New Jersey Resources Corp)

Notional Funding. Each Lender shall have the right from time to time, without notice to the BorrowerBorrowers, to deem any branch, Subsidiary or Affiliate (which for the purposes of this Section 11.5 [Funding by Branch, Subsidiary or Affiliate] 11.05 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls such Lender) of such Lender to have made, maintained or funded the Term any Loan in Dollars or in any Optional Currency to which the LIBOR Euro-Rate Option applies at any time, provided that immediately following (on the assumption that a payment were was then due from the Borrower Borrowers to such other office), ) and as a result of such change, change the Borrower Borrowers would not be under any greater financial obligation pursuant to Section 5.6 [Additional Compensation in Certain Circumstances] Sections 3.03 or Section 5.8 [Taxes] 4.06 than it they would have been in the absence of such change. Notional funding offices may be selected by each Lender without regard to such the Lender’s 's actual methods of making, maintaining or funding the Term Loan Loans or any sources of funding actually used by or available to such Lender.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Facility (Borders Group Inc)

Notional Funding. Each Lender shall have the right from time to time, without notice to the BorrowerBorrowers, to deem any branch, Subsidiary or Affiliate (which for the purposes of this Section 11.5 [Funding by Branch, Subsidiary or Affiliate] 10.5 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls such Lender) of such Lender to have made, maintained or funded the Term any Loan to which the LIBOR Term SOFR Rate Loan Option, Euro-Rate Option or EURIBOR Rate Option applies at any time, ,; provided that immediately following (on the assumption that a payment were then due from the Borrower Borrowers to such other office), and as a result of such change, the Borrower Borrowers would not be under any greater financial obligation pursuant to Section 5.6 [Additional Compensation in Certain Circumstances] or Section 5.8 [Taxes] 4.6 than it would have been in the absence of such change. Notional funding offices may be selected by each Lender without regard to such Lender’s actual methods of making, maintaining or funding the Term Loan Loans or any sources of funding actually used by or available to such Lender.

Appears in 1 contract

Samples: Credit Agreement (Glatfelter Corp)

Notional Funding. Each Lender shall have the right from time to time, without notice to the BorrowerBorrowers, to deem any branch, Subsidiary or Affiliate (which for the purposes of this Section 11.5 [Funding by Branch, Subsidiary or Affiliate] 12.05 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls such Lender) of such Lender to have made, maintained or funded the Term any Loan in Dollars or in any Optional Currency to which the LIBOR Euro-Rate Option applies at any time, provided that immediately following (on the assumption that a payment were was then due from the Borrower Borrowers to such other office), ) and as a result of such change, change the Borrower Borrowers would not be under any greater financial obligation pursuant to Section 5.6 [Additional Compensation in Certain Circumstances] Sections 4.03 or Section 5.8 [Taxes] 5.06 than it they would have been in the absence of such change. Notional funding offices may be selected by each Lender without regard to such the Lender’s 's actual methods of making, maintaining or funding the Term Loan Loans or any sources of funding actually used by or available to such Lender.

Appears in 1 contract

Samples: Credit Agreement (Borders Group Inc)