Mandatory Costs Rate definition

Mandatory Costs Rate has the meaning set forth in Exhibit D.

Mandatory Costs Rate means the rate calculated in accordance with the formula and in the manner set forth in Exhibit D hereto.

Mandatory Costs Rate will be the rate determined by the Administrative Agent to be equal to the rate (rounded upward, if necessary, to the next higher 1/16 of 1%) resulting from the application of the following formula: For Sterling: 100-(X+S) For other Foreign Currencies:

Examples of Mandatory Costs Rate in a sentence

• The Mandatory Costs Rate is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.

• The determination of Mandatory Costs Rate by the Administrative Agent in relation to any period shall, in the absence of manifest error, be conclusive and binding on all parties hereto.

• A negative result obtained from subtracting D from L shall be counted as zero.) The Mandatory Costs Rate attributable to a Eurocurrency Loan or other sum for any period shall be calculated at or about 11:00 A.M. (London time) on the first day of such period for the duration of such period.

• If and so long as any Lender is required to make special deposits to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender’s Eurocurrency Loans in any Alternative Currency, such Lender may require the Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loans at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit 2.15 hereto.

• B is the percentage rate of interest (excluding the Mandatory Costs Rate and the additional rate of interest specified in Clause 18.2 (Default interest) payable on any Unpaid Sum) payable for the relevant Interest Period on the Unpaid Sum.

More Definitions of Mandatory Costs Rate

Mandatory Costs Rate has the meaning set forth in Schedule 2.21.

Mandatory Costs Rate means in relation to any relevant period and sum, the addition to the interest rate determined in accordance with Exhibit 2.15 hereto.

Mandatory Costs Rate has the meaning set forth in Section 2.20.

Mandatory Costs Rate shall have the meaning given such term in Exhibit F.

Mandatory Costs Rate means in relation to any Interest Period or other period, the cost to any Lender of complying with all reserve, special deposit, capital adequacy, solvency, liquidity ratios, fees or other requirements of or imposed by the Bank of England, the Financial Services Authority, the European Central Bank or any other Governmental Authority for the time being attributable to each Loan or any unpaid sum (rounded up if necessary to 4 decimal places) as conclusively determined by the applicable Agent in accordance with the provisions set forth in Schedule 1.1 (d).

Mandatory Costs Rate means the percentage rate per annum calculated by the Lender in accordance with Schedule 2 (Calculation of Mandatory Costs).

Mandatory Costs Rate means the percentage rate per annum calculated by the Agent in accordance with Schedule 7 (Mandatory Costs Rate).