Example ContractsClausesadditional reserve requirementsVariants
Additional Reserve Requirements
Additional Reserve Requirements contract clause examples

Additional Reserve Requirements. The Company shall pay (or cause the applicable Designated 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 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), and # as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Company 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.

Additional Reserve Requirements. The 1">Company1">Borrower shall pay3"> (or cause the applicable Designated 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 5">Eurocurrency funds or deposits7"> denominated in Euros (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan 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), and # as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any9"> other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which 11">in each case shall be due and payable on each date on which interest is payable on such Loan, provided the 13">Company13">Borrower shall have received at least 15">1015">ten (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 17">1017">ten (10) days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 19">1019">ten (10) days from receipt of such notice.

Additional Reserve Requirements. The 1">Company1">Borrower shall pay3"> (or cause the applicable Designated 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 5">“Eurocurrency liabilities5">"Eurocurrency liabilities"), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan 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), and # as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the 7">Company7">Borrower shall have received at least 10 9">days’9">days' prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such 11">Lender.11">Lender; provided further that the Borrower shall not be treated less favorably with respect to such amounts than how other similarly situated borrowers of such Lender or L/C Issuer are generally treated (it being understood that this provision shall not be construed to obligate any Lender or L/C Issuer to make available any information that, in its sole discretion, it deems confidential). 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.

0">Additional Reserve Requirements. The 2">Company2">Borrower shall pay4"> (or cause the applicable Designated 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 6">deposits (currently known as “Eurocurrency liabilities”),6">deposits, additional interest on the unpaid principal amount of each 8">applicable Eurocurrency Rate Loan10"> of the Borrower 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 12">conclusive)12">conclusive in the absence of manifest error), and # as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of 14">the14">any Eurocurrency Rate 16">Loans,16">Loans of the Borrower, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be 18">conclusive),18">conclusive absent manifest error) which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the 20">Company20">Borrower shall have received at least 22">1022">fifteen (15) days’ prior notice (with a copy to the Administrative Agent) of such additional interest or 24">costs24">cost from such Lender. If a Lender fails to give notice 26">1026">fifteen (15) days prior to the relevant Interest Payment Date, such additional interest or 28">costs28">cost shall be due and payable 30">1030">fifteen (15) days from receipt of such notice.

Additional Reserve Requirements. The Company shall pay (or cause the applicable Designated 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 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), and # as long as such Lender shall be required to comply with any 1">other reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments 3">to make Credit Extensions in Alternative Currencies or the funding of the Eurocurrency Rate5"> Loans or Alternative Currency Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated 7">to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Company 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.

0">Additional Reserve Requirements. The 2">Company2">Borrower shall pay4"> (or cause the applicable Designated Borrower to pay) to each Lender, # as long as such Lender shall be required to maintain reserves 6">or liquidity with respect to liabilities or assets consisting of or including Eurocurrency 8">Rate funds or 10">deposits (currently known as “Eurocurrency liabilities”),10">deposits, additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves 12">or liquidity allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be 14">conclusive)14">conclusive in the absence of manifest error), and # as long as such Lender shall be required to comply with any16"> liquidity requirement, reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be 18">conclusive),18">conclusive absent manifest error) which in each case shall be due and payable on each date on which interest is payable on such 20">Loan,20">Loan; provided the 22">Company22">Borrower shall have received at least 24">1024">15 days’ prior26"> written notice (with a copy to the Administrative Agent) of such additional interest or 28">costs28">cost from such Lender. If a Lender fails to give 30">written notice 32">1032">fifteen days prior to the relevant Interest Payment Date, such additional interest or 34">costs34">cost shall be due and payable 36">1036">15 days from receipt of such 38">written notice.

0">Additional Reserve Requirements. The 2">Company2">Borrower shall pay4"> (or cause the applicable Designated 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 6">Rate funds or 8">deposits (currently known as “Eurocurrency liabilities”),8">deposits, additional interest on the unpaid principal amount of each 10">applicable Eurocurrency Rate Loan12"> of the Borrower 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 14">conclusive)14">conclusive in the absence of manifest error[[Borrower:Organization]], and # as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of 16">the16">any Eurocurrency Rate 18">Loans,18">Loans of the Borrower, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal 20">places)20">places[[Borrower:Organization]] equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be 22">conclusive),22">conclusive absent manifest error[[Borrower:Organization]] which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the 24">Company24">Borrower shall have received at least 26">1026">fifteen (15[[Borrower:Organization]] days’ prior notice (with a copy to the Administrative 28">Agent)28">Agent[[Borrower:Organization]] of such additional interest or 30">costs30">cost from such Lender. If a Lender fails to give notice 32">1032">fifteen (15[[Borrower:Organization]] days prior to the relevant Interest Payment Date, such additional interest or 34">costs34">cost shall be due and payable 36">1036">fifteen (15[[Borrower:Organization]] days from receipt of such notice.

0">Additional Reserve Requirements. The 2">Company2">Borrower shall pay4"> (or cause the applicable Designated Borrower to pay) to each Lender, # as long as such Lender shall be required to maintain 6">reserves6">reserves, capital or liquidity with respect to liabilities or assets consisting of or including Eurocurrency funds or 8">deposits (currently known as “Eurocurrency liabilities”),8">deposits, additional interest on the unpaid principal amount of each 10">applicable Eurocurrency Rate Loan12"> of the Borrower equal to the actual costs of such 14">reserves14">reserves, capital or liquidity allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be 16">conclusive)16">conclusive in the absence of manifest error), and # as long as such Lender shall be required to comply with any reserve 18">ratio18">ratio, capital or liquidity requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of 20">the20">any Eurocurrency Rate 22">Loans,22">Loans of the Borrower, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be 24">conclusive),24">conclusive absent manifest error) which in each case shall be due and payable on each date on which interest is payable on such 26">Loan,26">Loan; provided the 28">Company28">Borrower shall have received at least 30">1030">fifteen (15) days’ prior notice (with a copy to the Administrative Agent) of such additional interest or 32">costs32">cost from such Lender. If a Lender fails to give notice 34">1034">fifteen (15) days prior to the relevant Interest Payment Date, such additional interest or 36">costs36">cost shall be due and payable 38">1038">fifteen (15) days from receipt of such notice.

0">Additional Reserve Requirements. The 2">Company2">Borrower shall pay4"> (or cause the applicable Designated Borrower to pay) to each Lender, # as long as such Lender shall be required to maintain 6">reserves6">reserves, capital or liquidity with respect to liabilities or assets consisting of or including Eurocurrency funds or 8">deposits (currently known as “Eurocurrency liabilities”),8">deposits, additional interest on the unpaid principal amount of each 10">applicable Eurocurrency Rate Loan12"> of the Borrower equal to the actual costs of such 14">reserves14">reserves, capital or liquidity allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be 16">conclusive)16">conclusive in the absence of manifest error), and # as long as such Lender shall be required to comply with any reserve 18">ratio18">ratio, capital or liquidity requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of 20">the20">any Eurocurrency Rate 22">Loans,22">Loans of the Borrower, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be 24">conclusive),24">conclusive absent manifest error) which in each case shall be due and payable on each date on which interest is payable on such 26">Loan,26">Loan; provided the 28">Company28">Borrower shall have received at least 30">1030">fifteen (15) days’ prior notice (with a copy to the Administrative Agent) of such additional interest or 32">costs32">cost from such Lender. If a Lender fails to give notice 34">1034">fifteen (15) days prior to the relevant Interest Payment Date, such additional interest or 36">costs36">cost shall be due and payable 38">1038">fifteen (15) days from receipt of such notice.

Additional Reserve Requirements. 1">The Company1">[[Toro:Organization]] shall pay (or cause the applicable 3">Designated3">Subsidiary 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 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), and # as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided 5">the Company5">[[Toro:Organization]] 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.

0">Additional Reserve Requirements. The 2">Company2">Borrower shall pay4"> (or cause the applicable Designated 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 6">deposits (currently known as “Eurocurrency liabilities”),6">deposits, additional interest on the unpaid principal amount of each Eurocurrency Rate Loan 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 8">conclusive)8">conclusive in the absence of manifest error[[Borrower:Organization]], and # as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal 10">places)10">places[[Borrower:Organization]] equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be 12">conclusive),12">conclusive absent manifest error[[Borrower:Organization]] which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the 14">Company14">Borrower shall have received at least 16">1016">fifteen (15[[Borrower:Organization]] days’ prior notice (with a copy to the Administrative 18">Agent)18">Agent[[Borrower:Organization]] of such additional interest or 20">costs20">cost from such Lender. If a Lender fails to give notice 22">1022">fifteen (15[[Borrower:Organization]] days prior to the relevant Interest Payment Date, such additional interest or 24">costs24">cost shall be due and payable 26">1026">fifteen (15[[Borrower:Organization]] days from receipt of such notice.28"> Notwithstanding anything to the contrary contained above in this clause (c[[Borrower:Organization]], the Borrower shall not be obligated to pay any additional amounts pursuant to this clause (c[[Borrower:Organization]] to the extent such amounts are already included in the calculation of the Eurocurrency Rate pursuant to clause (b[[Borrower:Organization]] of the definition thereof.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.