Application Among Interest Rate Options Clause Samples
Application Among Interest Rate Options. All prepayments --------------------------------------- required pursuant to this Section 5.05 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to a Base Rate Option, then to Loans subject to Euro-Rate Option. In accordance with Section 5.06(b), the Borrower shall indemnify the Banks for any loss or expense including loss of margin incurred with respect to any such prepayments applied against Loans subject to a Euro-Rate Option on any day other than the last day of the applicable Interest Period.
Application Among Interest Rate Options. All prepayments required pursuant to this Section 5.7 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Loans subject to a LIBOR Rate Option. In accordance with Section 5.10 [Indemnity], the Borrower shall indemnify the Lenders for any loss or expense, including loss of margin, incurred with respect to any such prepayments applied against Loans subject to a LIBOR Rate Option on any day other than the last day of the applicable Interest Period.
Application Among Interest Rate Options. All prepayments required pursuant to this Section 4.5 [Mandatory Prepayments] shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Dollar Loans subject to a Euro-Rate Option and then to Optional Currency Loans subject to the Euro-Rate Option. In accordance with Section 4.6.2 [Indemnity], the Borrower shall indemnify the Banks for any loss or expense, including loss of margin, incurred with respect to any such prepayments applied against Loans subject to a Euro-Rate Option on any day other than the last day of the applicable Interest Period.
Application Among Interest Rate Options. All prepayments required pursuant to this Section 4.5 shall first be applied to the principal amount of the Loans subject to the Base Rate Option and accrued and unpaid interest thereon, then to Loans subject to a Euro-Rate Option and accrued and unpaid interest thereon. In accordance with Section 4.6.2 [Indemnity], the Borrower shall indemnify the Lenders for any loss or expense, including loss of margin, incurred with respect to any such prepayments applied against Loans subject to a Euro-Rate Option on any day other than the last day of the applicable Interest Period.
Application Among Interest Rate Options. All prepayments required pursuant to this Section 5.7 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Loans denominated in Dollars and subject to a Euro-Rate Option, then to Loans in Optional Currencies subject to the Euro-Rate Option, and the Borrowers will be subject to the indemnity obligations set forth in Section 5.8 [Increased Costs] and Section 5.9 [Taxes]. In accordance with Section 5.10 [Indemnity], each Borrower shall indemnify the Lenders for any loss or expense, including loss of margin, incurred with respect to any such prepayments applied against Loans subject to a Euro-Rate Option on any day other than the last day of the applicable Interest Period.
Application Among Interest Rate Options. All prepayments required pursuant to this Section 5.7 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Loans subject to a LIBOR Rate Option. In accordance with Section 5.10 [Indemnity], the Revolver Borrowers and/or Term Borrowers, as applicable, shall indemnify the Lenders for any loss or expense, including loss of margin, incurred with respect to any such prepayments applied against Loans subject to a LIBOR Rate Option on any day other than the last day of the applicable Interest Period.
Application Among Interest Rate Options. All prepayments required pursuant to this Section 5.7 [Mandatory Prepayments] shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Loans denominated in Dollars and subject to a LIBOR Rate Option (in order of Interest Period maturities, beginning with the earliest to mature), then to Optional Currency Loans. In accordance with Section 5.10 [Indemnity], but subject at all times to Section 2.1.3 [Certain Limitations] and Section 5.1.2 [Bifurcation], the Borrowers shall indemnify the Lenders for any loss or expense, including loss of margin, incurred with respect to any such prepayments applied against Loans subject to a LIBOR Rate Option on any day other than the last day of the applicable Interest Period.
Application Among Interest Rate Options. All prepayments required pursuant to this Section 4.5 shall first be applied among the Interest Rate Options to the principal amount of the applicable Loans subject to the Base Rate Option, then to Dollar Loans denominated in Dollars and subject to a Euro-Rate Option and then to Loans of Optional Currencies subject to the Euro-Rate Option, and the Borrowers will be subject to the indemnity obligation set forth in Section 4.6.2.
Application Among Interest Rate Options. All payments permitted or required pursuant to Sections 3.9 or 3.10 shall be applied among the Interest Rate Options first to the principal amount of the Loan subject to a Base-Rate Option, then to the principal amount of the Loan subject to a Euro-Rate Option to be applied to such Borrowing Tranches subject to a Euro-Rate Option as designated by Borrower, as long as no Event of Default exists hereunder. In accordance with subsection 3.12(b), the Borrower shall indemnify the Bank for any loss or expense including loss of margin incurred with respect to any such prepayments, other than prepayments made under Section 3.10, applied against any portion of the Loan subject to a Euro-Rate Option on any day other than the last day of the applicable Interest Period, provided that, to the extent that the outstanding principal balance which is subject to a Base-Rate Option is less than the amount of the applicable payment, then, at the election of Borrower, as long as no Event of Default exists hereunder, such payment and any interest earned thereon, if applicable, shall be applied against such Borrowing Tranches subject to the Euro-Rate Option as Borrower may choose, to the extent of such insufficiency, subject to Borrower's obligation to indemnify the Bank pursuant to subsection 3.12(b). Upon the occurrence of an Event of Default, notwithstanding anything to the contrary contained above in this Section 3.11, the Bank shall have the right to designate the application of such payments.
Application Among Interest Rate Options. All prepayments required pursuant to this Section 5.7 shall first be applied to the outstanding principal balance of the Term Loans in inverse order to the scheduled principal payments and then to the outstanding principal balance of the Revolving Credit Loans. After giving effect to the first sentence of this Section 5.7.5, all such prepayments shall next be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Loans subject to a LIBOR Rate Option. In accordance with Section 5.10 [Indemnity], the Borrower shall indemnify the Lenders for any loss or expense, incurred with respect to any such prepayments applied against Loans subject to a LIBOR Rate Option on any day other than the last day of the applicable Interest Period. All prepayments of the Term Loans required pursuant to this Section 5.7 may not be reborrowed.