Common use of Option to Fund Clause in Contracts

Option to Fund. Each Lender has indicated that, if the Borrower requests a Eurodollar Loan, such Lender may wish to purchase one or more deposits in order to fund or maintain its funding of its pro rata share of such Loan during the Interest Period with respect thereto; it being understood that the provisions of this Agreement relating to such funding are included only for the purpose of determining the rate of interest to be paid on such Loan and any amounts owing under Sections 2.9, 2.10, 2.11 and 2.

Appears in 3 contracts

Samples: Credit Agreement (Salem Communications Corp /De/), Credit Agreement (Salem Communications Corp /De/), Credit Agreement (Salem Communications Corp /De/)

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Option to Fund. Each Lender has indicated that, if the Borrower requests a Eurodollar Loan, such Lender may wish to purchase one or more deposits in order to fund or maintain its funding of its pro rata share of such Loan during the Interest Period with respect thereto; it being understood that the provisions of this Agreement relating to such funding are included only for the purpose of determining the rate of interest to be paid on such Loan and any amounts owing under Sections sections 2.9, 2.10, 2.11 and 2.

Appears in 3 contracts

Samples: Credit Agreement (Salem Communications Corp /De/), Credit Agreement (American Radio Systems Corp /Ma/), Credit Agreement (American Radio Systems Corp /Ma/)

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