Common use of Reserves on LIBOR Rate Loans Clause in Contracts

Reserves on LIBOR Rate Loans. The Issuer shall pay to each Purchaser, as long as such Purchaser shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser (as determined by such Purchaser in good faith, which determination shall be conclusive absent manifest error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer shall have received at least fifteen (15) days’ prior written notice (with a copy to each other Purchaser) of such additional interest from the Purchaser. If a Purchaser fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 4 contracts

Samples: Second Lien Note Purchase Agreement (Spinal Elements Holdings, Inc.), Second Lien Note Purchase Agreement (Spinal Elements Holdings, Inc.), Second Lien Note Purchase Agreement (Spinal Elements Holdings, Inc.)

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Reserves on LIBOR Rate Loans. The Issuer Borrowers shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest demonstrable error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer Borrower Representative shall have received at least fifteen (15) days’ prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice; provided that no Lender shall make a claim for any such additional insurance more than 180 days after such Lender has knowledge of such additional interest.

Appears in 4 contracts

Samples: Credit Agreement (International Textile Group Inc), Credit Agreement (International Textile Group Inc), Credit Agreement (International Textile Group Inc)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to each other Purchaserthe Applicable Agent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 2 contracts

Samples: Credit Agreement (Truck Hero, Inc.), Credit Agreement (TA THI Parent, Inc.)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”)deposits, additional costs interest on the unpaid principal amount of each LIBOR Rate Loan equal to the actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest errorconclusive), which shall be due and payable in cash on each date on which interest is payable on such Term Loan Loan, provided the Issuer Borrower shall have received at least fifteen (15) 10 days’ prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from such Lender, together with a written statement setting forth in reasonable detail the Purchaserbasis for calculating the additional amounts owed to such Lender under this subsection (e). If a Purchaser Lender fails to give notice fifteen (15) 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable fifteen (15) 10 days from receipt of such notice.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Lands End Inc)

Reserves on LIBOR Rate Loans. The Issuer Applicable Borrower, subject to Section 9.24, shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities"), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer Borrower Representative shall have received at least fifteen (15) days' prior written notice (with a copy to each other PurchaserAgent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Revolving Credit Agreement (Real Industry, Inc.)

Reserves on LIBOR Rate Loans. The Issuer Borrowers shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency [Eurocurrency]eurocurrency funds or deposits (currently known as “Eurocurrency [Eurocurrency]eurocurrency liabilities”), additional costs interest on the unpaid principal amount of each LIBOR Rate Loan equal to the actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest errorconclusive), which shall be due and payable in cash on each date on which interest is payable on such Term Loan Loan, provided the Issuer Lead Borrower shall have received at least fifteen (15) 10 days’ prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from the Purchasersuch Lender. If a Purchaser Lender fails to give notice fifteen ten (1510) days prior to the relevant Interest Payment Date, such additional interest shall be due and payable fifteen ten (1510) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Destination Xl Group, Inc.)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities"), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser the Lender (as determined by such Purchaser the Lender in good faith, which determination shall be conclusive absent manifest demonstrative error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer Borrower shall have received at least fifteen (15) days' prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant LIBOR Rate Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Packaged Ice Inc)

Reserves on LIBOR Rate Loans. The Issuer relevant Borrower shall pay to each Purchaserrelevant Revolving Lender, as long as such Purchaser Revolving Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser Revolving Lender (as determined by such Purchaser Revolving Lender in good faith, which determination shall be conclusive absent manifest error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer relevant Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to each other PurchaserAgent) of such additional interest from the Purchaserrelevant Revolving Lender. If a Purchaser Revolving Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Essex Rental Corp.)

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Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such portion of the Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest error), payable in cash on each date on which interest is payable on such portion of the Term Loan provided the Issuer Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to each other PurchaserAgent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Radioshack Corp)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs interest on the unpaid principal amount of each Term Loan as a LIBOR Rate Loan equal to the actual costs of such reserves allocated to such Term Lender’s Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest error), which shall be due and payable in cash on each date on which interest is payable on such Term Loan Loan, provided the Issuer Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to each other Purchaserthe Administrative Agent) of such additional interest from the Purchasersuch Lender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be due and payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (Walker & Dunlop, Inc.)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest error), payable in cash on each date on which interest is payable on such Term Loan provided the Issuer Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to each other PurchaserAgent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice; provided that in no event shall additional interest be payable pursuant to this Section 10.6 with respect to any time period which is more than three hundred sixty (360) days prior to any such notice.

Appears in 1 contract

Samples: Credit Agreement (WII Components, Inc.)

Reserves on LIBOR Rate Loans. The Issuer Borrower shall pay to each PurchaserLender, as long as such Purchaser Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities"), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Term Loan by such Purchaser Lender (as determined by such Purchaser Lender in good faith, which determination shall be conclusive absent manifest demonstrable error), payable in cash on each date on which interest is payable on such Term Loan provided Loan; PROVIDED the Issuer Borrower shall have received at least fifteen (15) days' prior written notice (with a copy to each other Purchaserthe Agent) of such additional interest from the PurchaserLender. If a Purchaser Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

Appears in 1 contract

Samples: Credit Agreement (PrimeWood, Inc.)

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