Common use of Reserves on Eurocurrency Rate Loans Clause in Contracts

Reserves on Eurocurrency Rate Loans. Each of the Borrower and the applicable Designated Borrowers shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower or such Designated Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 5 contracts

Samples: 364 Day Credit and Guarantee Agreement (PayPal Holdings, Inc.), 364 Day Credit and Guarantee Agreement (PayPal Holdings, Inc.), Credit and Guarantee Agreement (PayPal Holdings, Inc.)

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Reserves on Eurocurrency Rate Loans. Each of the The Borrower and the applicable Designated Borrowers shall pay to each Lender, if as a result of a Change in Law, and so long as as, such Lender shall be required under regulations of the Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities” (as defined in Regulation D thereof), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it of such Lender equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusiveconclusive absent manifest error), which shall be due and payable on each date on which interest is payable on such Loan, provided that the Borrower or such Designated Borrower shall have received at least 10 days’ prior written notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give written notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such written notice.

Appears in 4 contracts

Samples: Credit Agreement (Cme Group Inc.), Credit Agreement (Cme Group Inc.), Credit Agreement (Cme Group Inc.)

Reserves on Eurocurrency Rate Loans. Each of the Borrower and The Company shall pay (or cause the applicable Designated Borrowers shall pay Borrower to pay) to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower or such Designated Borrower Company shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 4 contracts

Samples: Credit Agreement (Arris Group Inc), Credit Agreement (Arris Group Inc), Credit Agreement (Arris Group Inc)

Reserves on Eurocurrency Rate Loans. Each of the Borrower and The Company shall pay (or cause the applicable Designated Borrowers shall pay Borrower to pay) to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusiveconclusive absent demonstrable error), which shall be due and payable on each date on which interest is payable on such Loan, ; provided that the Borrower or such Designated Borrower Company shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 3 contracts

Samples: Credit Agreement (PENTAIR PLC), Credit Agreement (Pentair Inc), Credit Agreement (Pentair Inc)

Reserves on Eurocurrency Rate Loans. Each of the Borrower and The Company shall pay (or cause the applicable Designated Borrowers shall pay Borrower to pay) to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan; provided, provided that, the Borrower or such Designated Borrower Company shall have received at least 10 ten (10) days’ prior written notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give written notice 10 ten (10) days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 ten (10) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Workday, Inc.)

Reserves on Eurocurrency Rate Loans. Each of the Borrower and the applicable Designated The Borrowers shall pay to each Lender, as long as such Lender shall be required to maintain reserves comply with any reserve ratio requirement or analogous requirement of any central banking or financial regulatory authority imposed in respect to liabilities of the maintenance of the Commitments or assets consisting the funding of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to it the nearest five decimal places) equal to the actual costs of such reserves allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower or such Designated Borrower Borrowers shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Tempur Pedic International Inc)

Reserves on Eurocurrency Rate Loans. Each of the Borrower and the applicable Designated The Borrowers shall pay pay, or cause to be paid, to each Lender, as long as such Lender shall be required to maintain reserves comply with any reserve ratio requirement or analogous requirement of any central banking or financial regulatory authority imposed in respect to liabilities of the maintenance of the Commitments or assets consisting the funding of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to it the nearest five decimal places) equal to the actual costs of such reserves allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower or such Designated Lead Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Tempur Pedic International Inc)

Reserves on Eurocurrency Rate Loans. Each of the The Borrower and the applicable Designated Borrowers shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided that the Borrower or such Designated Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent and, in the case of a JPY Term Lender, the Technical Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Equinix Inc)

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Reserves on Eurocurrency Rate Loans. Each of the Borrower and the applicable Designated Borrowers shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Euro funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower or such Designated Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Ebay Inc)

Reserves on Eurocurrency Rate Loans. Each of the Borrower and the any applicable Designated Borrowers Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan; provided, provided the Borrower or such Designated Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 1 contract

Samples: 364 Day Credit Agreement (PayPal Holdings, Inc.)

Reserves on Eurocurrency Rate Loans. Each of the Borrower and The Company shall pay (or cause the applicable Designated Borrowers shall pay Borrower to pay) to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities"), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower or such Designated Borrower Company shall have received at least 10 days' prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Avnet Inc)

Reserves on Eurocurrency Rate Loans. Each of the Borrower and the applicable Designated The Borrowers shall pay pay, or cause to be paid, to each Lender, as long as such Lender shall be required to maintain reserves comply with any reserve ratio requirement or analogous requirement of any central banking or financial regulatory authority imposed in respect to liabilities of the maintenance of the Commitments or assets consisting the funding of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to it the nearest five decimal places) equal to the actual costs of such reserves allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower or such Designated Borrower Borrowers shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Tempur Pedic International Inc)

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