Regulation D Compensation. Each Lender that is subject to reserve requirements of the Board of Governors of the Federal Reserve System (or any successor) may require the Borrowers to pay, contemporaneously with each payment of interest on the Eurodollar Rate Advances, additional interest on the related Eurodollar Rate Advances of such Lender at the rate per annum equal to the excess of (i) (A) the applicable Eurodollar Rate divided by (B) one minus the Eurodollar Rate Reserve Percentage over (ii) the applicable Eurodollar Rate. Any Lender wishing to require payment of such additional interest (x) shall so notify the Agent and the Borrowers, in which case such additional interest on the Eurodollar Rate Advances of such Lender shall be payable to such Lender at the place indicated in such notice with respect to each Interest Period commencing at least five Business Days after the giving of such notice and (y) shall notify the Agent and the Borrowers at least five Business Days prior to each date on which interest is payable on the amount then due it under this Section. Each such notification shall be accompanied by such information as the Borrowers may reasonably request.
Appears in 8 contracts
Samples: Second Lien Credit Agreement (Sears Holdings Corp), Credit Agreement (Sears Holdings Corp), Credit Agreement (Sears Holdings Corp)
Regulation D Compensation. Each Term Lender that is subject to reserve requirements of the Board of Governors of the Federal Reserve System (or any successor) may require the Borrowers to pay, contemporaneously with each payment of interest on the Eurodollar Rate Advances, additional interest on the related Eurodollar Rate Advances of such Term Lender at the rate per annum equal to the excess of (i) (A) the applicable Eurodollar Rate divided by (B) one minus the Eurodollar Rate Reserve Percentage over (ii) the applicable Eurodollar Rate. Any Term Lender wishing to require payment of such additional interest (x) shall so notify the Agent and the Borrowers, in which case such additional interest on the Eurodollar Rate Advances of such Term Lender shall be payable to such Term Lender at the place indicated in such notice with respect to each Interest Period commencing at least five Business Days after the giving of such notice and (y) shall notify the Agent and the Borrowers at least five Business Days prior to each date on which interest is payable on the amount then due it under this Section. Each such notification shall be accompanied by such information as the Borrowers may reasonably request.
Appears in 6 contracts
Samples: Term Loan Credit Agreement, Second Lien Credit Agreement (Sears Holdings Corp), Second Lien Credit Agreement (Sears Holdings Corp)
Regulation D Compensation. Each Lender that is subject to reserve requirements of the Board of Governors of the Federal Reserve System (or any successor) Bank may require the Borrowers each Borrower to pay, contemporaneously with each payment of interest on the Eurodollar Rate AdvancesTerm Benchmark Loans made to such Borrower, additional interest on the related Eurodollar Rate Advances relevant Term Benchmark Loan of such Lender Bank to such Borrower at the a rate per annum equal determined by such Bank up to but not exceeding the excess of (i) (A) the applicable Eurodollar Term Benchmark Rate divided by (B) one minus the Eurodollar Rate Eurocurrency Reserve Percentage over (ii) the applicable Eurodollar Term Benchmark Rate. Any Lender Bank wishing to require payment of such additional interest (x) shall so notify the Agent such Borrower and the BorrowersAdministrative Agent, in which case such additional interest on the Eurodollar Rate Advances Term Benchmark Loans of such Lender Bank to such Borrower shall be payable to such Lender Bank at the place indicated in such notice with respect to each Interest Period commencing at least five three Business Days after the giving of such notice and (y) shall notify the Agent and the Borrowers such Borrower at least five Business Days prior to each date on which interest is payable on Term Benchmark Loans made to such Borrower, of the amount then due it to such Bank under this SectionSection 2.15. Each such notification shall be accompanied by such information Bank confirms that, as of the Borrowers may reasonably requestdate hereof, the Eurocurrency Reserve Percentage is zero.
Appears in 4 contracts
Samples: 364 Day Revolving Credit Agreement (Eaton Corp PLC), Revolving Credit Agreement (Eaton Corp PLC), 364 Day Revolving Credit Agreement (Eaton Corp PLC)
Regulation D Compensation. Each Lender that is subject to reserve requirements of the Board of Governors of the Federal Reserve System (or any successor) may require the Borrowers Borrower to pay, contemporaneously with each payment of interest on the Eurodollar Rate Advances, additional interest on the related Eurodollar Rate Advances of such Lender at the rate per annum equal to the excess of (i) (A) the applicable Eurodollar Rate divided by (B) one minus the Eurodollar Rate Reserve Percentage over (ii) the applicable Eurodollar Raterate specified in clause (i)(A). Any Lender wishing to require payment of such additional interest (x) shall so notify the Agent and the BorrowersBorrower, in which case such additional interest on the Eurodollar Rate Advances of such Lender shall be payable to such Lender at the place indicated in such notice with respect to each Interest Period commencing at least five Business Days after the giving of such notice and (y) shall notify the Agent and the Borrowers Borrower at least five Business Days prior to each date on which interest is payable on of the amount then due it under this Section. Each such notification shall be accompanied by such information as the Borrowers may reasonably request.
Appears in 2 contracts
Samples: Credit Agreement (Packaging Corp of America), Credit Agreement (Packaging Corp of America)
Regulation D Compensation. Each Lender that is subject to reserve requirements of the Board of Governors of the Federal Reserve System (or any successor) may require the Borrowers Borrower to pay, contemporaneously with each payment of interest on the any Eurodollar Rate AdvancesLoan of such Lender, additional interest on the related such Eurodollar Rate Advances of such Lender Loan at the rate per annum equal to the excess of (i) (A) the applicable Eurodollar Rate divided by (B) one minus the Eurodollar Rate Reserve Percentage over (ii) the applicable Eurodollar Raterate specified in clause (i)(A). Any Lender wishing to require payment of such additional interest (x) shall so notify the Agent and the BorrowersBorrower, in which case such additional interest on the Eurodollar Rate Advances Loans of such Lender shall be payable to such Lender at the place indicated in such notice with respect to each Interest Period commencing at least five Business Days after the giving of such notice and (y) shall notify the Agent and the Borrowers Borrower at least five Business Days prior to each date on which interest is payable on of the amount then due it under this Section. Each such notification shall be accompanied by such information as the Borrowers may reasonably request.
Appears in 1 contract
Regulation D Compensation. Each To the extent to which a Lender that is subject to Eurodollar reserve requirements of the Board of Governors of the Federal Reserve System (or any successor) requirements, such Lender may require the Borrowers Borrower to pay, contemporaneously with each payment of interest on the Eurodollar Rate AdvancesLoans, additional interest on the related Eurodollar Rate Advances Loan of such Lender at the a rate per annum equal determined by such Lender up to but not exceeding the excess of (i) (A) the applicable Eurodollar Rate divided by (B) one minus the Eurodollar Rate Reserve Percentage over (ii) the applicable Eurodollar Rate. Any Lender wishing to require payment of such additional interest (x) shall so notify the Agent Borrower and the BorrowersAdministrative Agent, in which case such additional interest on the Eurodollar Rate Advances Loans of such Lender shall be payable to such Lender at the place indicated in such notice with respect to each Interest Period commencing at least five three Business Days after the giving of such Lender gives such notice and (y) shall notify the Agent and the Borrowers Borrower at least five Business Days prior to before each date on which interest is payable on the Eurodollar Rate Loans of the amount then due it under this Section. Each such notification shall be accompanied by such information as the Borrowers may reasonably request.Section 2.13
Appears in 1 contract
Regulation D Compensation. Each To the extent to which a Lender that is subject to Eurodollar reserve requirements of the Board of Governors of the Federal Reserve System (or any successor) requirements, such Lender may require the Borrowers Borrower to pay, contemporaneously with each payment of interest on the Eurodollar Rate AdvancesLoans, additional interest on the related Eurodollar Rate Advances Loan of such Lender at the a rate per annum equal determined by such Lender up to but not exceeding the excess of (i) (A) the applicable Eurodollar Rate divided by (B) one minus the Eurodollar Rate Reserve Percentage over (ii) the applicable Eurodollar Rate. Any Lender wishing to require payment of such additional interest (x) shall so notify the Agent Borrower and the BorrowersAdministrative Agent, in which case such additional interest on the Eurodollar Rate Advances Loans of such Lender shall be payable to such Lender at the place indicated in such notice with respect to each Interest Period commencing at least five three Business Days after the giving of such Lender gives such notice and (y) shall notify the Agent and the Borrowers Borrower at least five Business Days prior to before each date on which interest is payable on the Eurodollar Rate Loans of the amount then due it under this Section. Each such notification shall be accompanied by such information as the Borrowers may reasonably requestSection 2.13.
Appears in 1 contract
Regulation D Compensation. Each Lender that is subject to reserve requirements of the Board of Governors of the Federal Reserve System (or any successor) may require the Borrowers Borrower to pay, contemporaneously with each payment of interest on the Eurodollar Rate Advances, additional interest on the related Eurodollar Rate Advances of such Lender at the rate per annum equal to the excess of (i) (A) the applicable Eurodollar Rate divided by (B) one minus the Eurodollar Rate Reserve Percentage over (ii) the applicable Eurodollar Rate. Any Lender wishing to require payment of such additional interest (x) shall so notify the Agent and the BorrowersBorrower, in which case such additional interest on the Eurodollar Rate Advances of such Lender shall be payable to such Lender at the place indicated in such notice with respect to each Interest Period commencing at least five Business Days after the giving of such notice and (y) shall notify the Agent and the Borrowers Borrower at least five Business Days prior to each date on which interest is payable on the amount then due it under this Section. Each such notification shall be accompanied by such information as the Borrowers Borrower may reasonably request.
Appears in 1 contract