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

Payments Not at End of Interest Period. If the Company for any -------------------------------------- reason makes any payment of principal with respect to any Eurodollar Loan on any day other than the last day of the Interest Period applicable to such Eurodollar Loan, or fails to borrow a Eurodollar Loan after giving a Notice of Borrowing pursuant to Section 2.2, the Company shall pay to the Bank an amount computed pursuant to the following formula: L = (R - T) x P x D --------------- 360 L = amount payable to the Bank 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 at the Bank's sole discretion, maturing on or near the last day of the Interest Period of such Loan and in approximately the same amount as such Loan can be purchased by the Bank on the day of such payment of principal or failure to borrow 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 Company shall pay such amount upon presentation by the Bank of a statement setting forth the amount and the Bank's calculation thereof pursuant hereto, which statement shall be deemed true and correct absent manifest error.

Payments Not at End of Interest Period. If the Company Borrower for any -------------------------------------- reason makes any payment of principal with respect to any Eurodollar Loan on any day other than the last day of the 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 2.22.4 (unless such failure results from the Lender’s gross negligence or willful misconduct), the Company Borrower shall pay to the Bank Lender an amount computed pursuant to the following formula: L = (R - T) x P x D --------------- 360 L = amount payable to the Bank 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 at in the Bank's sole 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 Bank 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 Company Borrower shall pay such amount upon presentation by the Bank Lender of a statement setting forth the amount and the Bank's Lender’s calculation thereof (in reasonable detail) pursuant hereto, which statement shall be deemed true and correct absent manifest error.