Special Provision Regarding Loans Sample Clauses

Special Provision Regarding Loans. To induce the Lenders to provide the Loans on the terms and conditions set forth herein, if (i) any Loan is repaid in whole or in part prior to the last day of any applicable Interest Period (whether that repayment is made pursuant to any provision of this Agreement or any other Transaction Document or occurs as a result of acceleration, by operation of law or otherwise); (ii) the Borrower shall default in payment when due of the principal amount of or interest on any Loan; (iii) the Borrower shall refuse to accept any borrowing of, or shall request a termination of any borrowing, of any Loan after the Borrower has given a notice thereof in accordance with this Agreement, then the Borrower shall indemnify and hold harmless each Lender from and against any loss or expense arising from the reemployment of funds obtained by it or from fees payable to terminate deposits from which such funds were obtained. For the purposes of calculating amounts payable to a Lender under this subsection, each Lender shall be deemed to have actually funded its Percentage Share of the applicable Loan through the purchase of a deposit bearing interest at the LIBOR Rate in an amount equal to its Percentage Share of the applicable Loan and having a maturity comparable to the relevant Interest Period; provided, that each Lender may fund its Percentage Share of each applicable Loan in any manner it sees fit, and the foregoing assumption shall only be used for the calculation of amounts payable under this subsection. This covenant of the Borrower shall survive the termination of this Agreement and the payment of the Notes and all other amounts payable hereunder. As promptly as practicable under the circumstances, each Lender shall provide the Borrower with its written calculation of all amounts payable pursuant to this Section 1.8, and such calculation shall be binding on the parties hereto absent manifest error. The amounts calculated pursuant to this Section 1.8, and payable by the Borrower pursuant to this subsection as well as other provisions of this Agreement, are sometimes referred to as “LIBOR Breakage Costs”).
Sample 1
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