Common use of Payments Not at End of Interest Period Clause in Contracts

Payments Not at End of Interest Period. If the Borrower for any reason makes any payment of principal with respect to any Eurodollar Loan on any day other than the last day of an Interest Period applicable to such Eurodollar Loan, or fails to borrow or continue or convert to a Eurodollar Loan after giving a Notice of Borrowing or Conversion pursuant to Section 2.4 (unless such failure results from the Lender’s gross negligence or willful misconduct), the Borrower shall pay to the Lender an amount computed pursuant to the following formula: L = amount payable to the Lender R = interest rate on such Loan T = effective interest rate per annum at which any readily marketable bond or other obligation of the United States, selected in the Lender’s reasonable discretion, maturing on or near the last day of the then applicable Interest Period of such Loan and in approximately the same amount as such Loan can be purchased by the Lender on the day of such payment of principal or failure to borrow or continue or convert P = the amount of principal prepaid or the amount of the requested Loan D = the number of days remaining in the Interest Period as of the date of such payment or the number of days of the requested Interest Period The Borrower shall pay such amount upon presentation by the Lender of a statement setting forth the amount and the Lender’s calculation thereof (in reasonable detail) pursuant hereto, which statement shall be deemed true and correct absent manifest error.

Payments Not at End of Interest Period. If the Borrower for any reason makes any payment of principal with respect to any Eurodollar LIBOR Loan on any day other than the last day of an Interest Period applicable to such Eurodollar LIBOR Loan, or fails to borrow or continue or convert to a Eurodollar LIBOR Loan after giving a Notice of Borrowing or Conversion pursuant to Section 2.4 (unless such failure results from the Lender’s gross negligence or willful misconduct)2.2, the Borrower shall pay to Agent for the Lender account of each Bank an amount computed pursuant to the following formula: L = (R - T) x P x D 360 21. L = amount payable to Agent for the Lender account of the Banks R = interest rate on such Loan T = effective interest rate per annum at which any readily marketable bond or other obligation of the United States, selected in the Lender’s reasonable at Sumitomo's sole discretion, maturing on or near the last day of the then applicable Interest Period of such Loan and in approximately the same amount as such Loan can be purchased by the Lender Sumitomo on the day of such payment of principal or failure to borrow or continue or convert P = the amount of principal prepaid or the amount of the requested Loan D = the number of days remaining in the Interest Period as of the date of such payment or the number of days of the requested Interest Period The Borrower shall pay such amount upon presentation by the Lender Agent of a statement setting forth the amount and the Lender’s Agent's calculation thereof (in reasonable detail) pursuant hereto, which statement shall be deemed true and correct absent manifest error.

Payments Not at End of Interest Period. If the Borrower for any reason makes any payment of principal with respect to any Eurodollar LIBOR Loan on any day other than the last day of an Interest Period applicable to such Eurodollar LIBOR Loan, or fails to borrow or continue or convert to a Eurodollar LIBOR Loan after giving a Borrowing Notice or notice of Borrowing or Conversion conversion pursuant to Section 2.4 (unless such failure results from the Lender’s gross negligence or willful misconduct2.1(g), the promptly upon written notice thereof from FNBB, Borrower shall pay to the Lender FNBB an amount computed pursuant to the following formula: L = (R - T) x P x D ---------------- 360 L = amount payable to the Lender FNBB R = interest rate on such Loan T = effective interest rate per annum at which any readily marketable bond or other obligation of the United States, selected in the Lender’s reasonable at FNBB's sole discretion, maturing on or near the last day of the then applicable Interest Period of such Loan and in approximately the same amount as such Loan can be purchased by the Lender FNBB on the day of such payment of principal or failure to borrow or continue or convert P = the amount of principal prepaid or the amount of the requested Loan D = the number of days remaining in the Interest Period as of the date of such payment or the number of days of the requested Interest Period The Borrower shall pay such amount promptly upon presentation by the Lender FNBB of a statement setting forth the amount and the Lender’s FNBB's calculation thereof (in reasonable detail) pursuant hereto, which statement shall be deemed true and correct absent manifest error.